TechFlow, September 9 — According to Cointelegraph, on Monday, Kobyakov, an advisor to Russian President Putin, stated that the United States is strategically using cryptocurrencies and gold to devalue its massive debt in order to "urgently address declining confidence in the dollar." He claimed the U.S. plans to shift its debt onto dollar-pegged stablecoins to achieve this devaluation, similar to actions taken in the 1930s and 1970s. The U.S. national debt has risen to $37.43 trillion. Meanwhile, U.S. Treasury Secretary Bessent emphasized that stablecoins will be used to maintain the dollar's global dominance, and President Trump signed the GENIUS Act in July this year to advance stablecoin development. In response, Russia is also developing a ruble-backed stablecoin called A7A5 to reduce reliance on dollar-denominated stablecoins.
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