The “Stability” of Stablecoins: Money Revolution or Future Crisis?
Stablecoin issuer Circle’s United States Digital Coin (USDC) stacked high, reflecting the growing market for stablecoins following the passage of the GENIUS Act. In June 2025, US Treasury Secretary Scott Bessent took to X, proclaiming that the GENIUS Act, the first federal framework for stablecoins, “could grow [stablecoins] into a $3.7 trillion market by the end of the decade.” That same month, a New York Times opinion piece appeared under the headline: “The Genius Act Will Bring Economic...
