🏛️ POLICY: Tether and Circle have added about $70B in Treasury bills since 2022, making stablecoins a growing source of short-term US debt demand. But they still own less than 1% of Treasuries outstanding. Stablecoins can support the bill market at the margin, not replace central banks or major bond buyers. https://cryptoslate.com/how-stablecoins-are-quietly-becoming-the-feds-debt-buyer-of-last-resort/(CryptoSlate)