White House's Stablecoin Regulation Could Spark Trillions in Treasury Demand Overnight, Says Trump Advisor

David Sacks Claims GENIUS Act Will Drive Massive New Demand for U.S. Treasuries

Holy moly, folks! The White House is pushing hard for stablecoin regulation, and according to Trump's top crypto and AI guru, David Sacks, this could unleash a tsunami of trillions in Treasury demand "practically overnight!" Can you believe it?

Sacks spilled the beans to CNBC, saying the administration is betting big on the U.S. Senate passing the GENIUS Act, a bill that'll shake up the stablecoin world and send U.S. Treasury demand through the roof!

With over $200 billion already in stablecoins and no rules to guide them, Sacks says giving these digital dollars some legal love could create "trillions of dollars of demand for our Treasuries practically overnight, very quickly." We're talking warp speed here, people!

The Guiding and Establishing National Innovation for U.S. Stablecoins Act just cleared a major Senate hurdle with a whopping 66 votes, including 15 Dems. That's enough to dodge a filibuster and keep this party rolling!

Sacks is confident this bill is a done deal, but he dodged questions about potential conflicts of interest involving Trump and his fam's crypto ventures. Talk about a curveball!

Now, critics are raising eyebrows at Trump's crypto connections, pointing out that his family is all in on World Liberty Financial, which just launched a stablecoin called USD1. It's backed by U.S. Treasuries and dollar deposits, and Abu Dhabi's MGX fund threw $2 billion at it on Binance, the exchange that admitted to breaking U.S. anti-money laundering laws in a $4.3 billion plea deal. Talk about a wild ride!

Sacks is painting this as an economic game-changer, saying stablecoins are like "new, more efficient, cheaper, smoother payment system — new payment rails for the U.S. economy." Sounds like a turbo boost for our financial future!

But hold your horses, because the GENIUS Act's final lap might get bumpy. Sen. Josh Hawley threw a last-minute curveball with an amendment capping credit card late fees, and that could ruffle some banking feathers. Stay tuned, folks, this rollercoaster ain't over yet!