Claimed U.S Treasury Stablecoin Growth Lacks Verification – Coincu
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Key Points: No confirmation of U.S. Treasury endorsing stablecoin growth predictions. Reports cite $3.7 trillion market by 2030, unsubstantiated. No evidence of GENIUS Act support or implementation. ChainCatcher News published claims that U.S. Treasury Secretary Basant anticipated stablecoin market growth to $3.7 trillion by 2030 alongside the GENIUS Act. However, no official records verify Secretary Basant’s statements. The unverified claims suggest a significant boost to stablecoins backed by U.S. Treasuries. Yet, without official confirmation, their implications for market and policy remain speculative. Treasury Secretary’s Statement: Verification Gaps and Market Implications No verified record confirms Secretary Basant made the statement or supports the projected stablecoin growth. ChainCatcher News attributed the statement, yet neither U.S. Treasury nor any primary government sources have corroborated this claim. Immediate implications for the stablecoin market hinge on these assertions’ validity. Official backing from the U.S. Treasury could lead to substantial market optimism and infrastructure shifts. Without verifiable evidence, impacts remain theoretical. The crypto community has expressed skepticism due to lack of verification. Economist responses and market analysts emphasize needing official statements on GENIUS Act existence and impact for any meaningful discourse. As Jenny Johnson, CEO of Franklin Templeton, noted, “Public chains are expected to replace part of the traditional financial infrastructure, unlocking new value for investors.” Stablecoin Adoption and Economic Policy: Expert Insights Did you know? Stablecoins frequently use U.S. Treasuries as backing. Similar claims have surfaced, but official governmental support remains crucial for market confidence—a pivotal factor for speculative growth. According to CoinMarketCap, Tether USDt has a current price of $1.00, with a market cap of $155.49 billion. Its 24-hour trading volume saw a -2.86% change. The stablecoin remains a core asset with 155.48 billion circulating supply. Tether USDt(USDT), daily chart, screenshot on CoinMarketCap at 00:43 UTC on June 18, 2025. Source: CoinMarketCap The Coincu…
Filed under: News - @ June 18, 2025 3:25 am