stablecoin supply initially soared in the low‐rate years (2019–2021) while the government’s interest costs stayed muted; effectively two disconnected worlds.
then in 2022, the fed’s rate hikes sent interest outlays vertical at the same time stablecoin supply slumped (terra-luna, risk-off sentiment).
yet by 2023–202...
Arhat
@0xArhat
9mo
stablecoin supply initially soared in the low‐rate years (2019–2021) while the government’s interest costs stayed muted; effectively two disconnected worlds.
then in 2022, the fed’s rate hikes sent interest outlays vertical at the same time stablecoin supply slumped https://t.co/jZUcjuHUrz
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the tariff war was basically to make it harder to raise debt for other countries. just when you thought de-dollarisation was holding pace, trump comes in and makes US dollar more attractive to hold again.
here are my thoughts on a narrational thesis i’ve been exploring.
Arhat
@0xArhat
9mo
the tariff war was basically to make it harder to raise debt for other countries. just when you thought de-dollarisation was holding pace, trump comes in and makes U.S. Dollar more attractive to hold again.
chinese bonds just got riskier in perception, and a chunk of global https://t.co/hP4NsOcwyQ
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