tl;dr
Stablecoin issuers, including Tether Ltd and Circle, now hold over $120 billion in U.S. Treasury notes, making them the world's 18th largest holders of U.S. debt. While stablecoin legislation has been close to passing in the U.S. Congress, attempts to include it in other bills have failed. The U.S. ...
Stablecoin issuers have amassed over $120 billion in U.S. Treasury notes, positioning them as the 18th largest holders of U.S. debt globally. This development has raised concerns amid the escalating U.S. debt.
Legislation pertaining to stablecoins in the U.S., which is on the verge of becoming law, is encountering obstacles despite expectations of approval before the elections.
The U.S. government's debt has surpassed $34 trillion and is projected to reach $50 trillion by 2034, prompting apprehensions regarding market instability and the potential adoption of alternative assets.
Leading stablecoin issuers, including Tether Ltd and Circle, now collectively hold over $120 billion in U.S. Treasury notes, ranking them as the world's 18th largest holders of U.S. debt, ahead of surplus nations like Germany and South Korea. Tether Ltd holds approximately $91 billion in Treasuries, while Circle holds short-dated U.S. debt worth $29 billion.
Although stablecoin legislation has approached passage in the U.S. Congress, attempts to incorporate it into other bills have faltered. The U.S. national debt's rapid growth, forecasted to reach $50 trillion by 2034, has prompted concerns about debt management and potential market instability, leading some to believe it could drive adoption of alternative assets such as bitcoin and gold.
More about C3 Ai Inc
C3 Ai Inc (C3) operates in the Technology sector and offers prepackaged software services. The company's market cap stands at 3,477,068,000 with no dividend yield. The stock's price change percentage over the last 52 weeks was -2.34%, with a beta of 2.602. C3's price-to-earnings ratio is -0.901, and its total outstanding shares amount to 310,582,000. The stock's latest closing price was 29.35, with a 50-day moving average of 0 and a 200-day moving average of 0.196.
More about Forum Energy Technologies Inc
Company: Forum Energy Technologies Inc
Industry: Oil & Gas Field Machinery & Equipment
Market Cap: 206.858B
Headquarters: Houston, Texas
Current Price: $70.19
Price Change: -2.36
Price Change (%): -3.42%
Volume: 752.299M
RSI: 30 (Oversold)
Bollinger Bands: -0.578 (Bearish)
Support Level: $70.071