President Trump’s crypto advisor David Sacks was in the headlines again recently over his statement about the GENIUS Act stablecoin bill. The bill which was introduced in February this year was aimed at providing regulatory clarity.
Social sentiment around the GENIUS Act Stablecoin bill recently escalated with analysts and key figures chiming in. Among them included David Sacks who recently noted during a CNBC interview that if approved, the bill would pave the way for aggressive U.S treasuries demand.
Source: X
Sacks’ statement revealed that the U.S was banking heavily on stablecoins. The recent U.S credit downgrade by Moody’s triggered concern among investors and it highlighted escalating pressure for the U.S.
Market data previously revealed that U.S treasuries were becoming less attractive especially after the United States instigated a tariff war. The situation was further exasperated by the recent credit downgrade which negatively impacted investor and credito
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