US Crypto Czar David Sacks: Genius Stablecoin Bill Could Unleash Trillions

Hold onto your hats, folks! US crypto kingpin David Sacks just dropped a bombshell: the Genius stablecoin bill could haul the whopping $250 billion offshore stablecoin market right into the heart of America, skyrocket industry trust, and send global demand for the U.S. dollar through the roof!

In a jaw-dropping Bloomberg interview, Sacks spilled the beans on the Genius Act, saying this game-changing bill would give the regulatory clarity needed to drag offshore stablecoin action back under U.S. control.

“I think this bill is a major piece of legislation, I think it is a fantastic bill,” he declared with fire in his eyes. Sacks went on to say that the Act would throw open the doors for traditional banks and financial giants to jump into the stablecoin game with confidence, unlocking explosive growth that could balloon the current $250 billion market cap into the trillions!

“I think we’ll see banks getting into the act, I think we’ll see traditional financial players getting involved in it, and that’s why the float is expected to grow from roughly 250 billion to trillions of dollars,” he added, practically vibrating with excitement.

The bill, introduced by the fearless Sen. Bill Hagerty from Tennessee back in February, is no joke. If it passes, stablecoin issuers will have to keep full reserves in dollars or super liquid assets, face regular audits, and play by stricter rules. It even covers foreign issuers to slam the brakes on financial risks and misuse.

But wait, there's more! Sacks believes this bill could shake the world. He's convinced that people in other countries might ditch their local currencies for U.S. digital dollars, juicing up global demand for U.S. Treasuries like never before.

With Sacks throwing his weight behind it, the Genius Act is gaining steam faster than a rocket, already winning hardcore support from industry heavyweights and lawmakers, including none other than President Donald Trump himself.

"It is pure Genius:" Trump on stablecoin bill

Holy smokes! On June 19, President Trump lit up his Truth Social account, showering praise on the Genius Act and calling it a monster step toward making the U.S. the undisputed global boss of digital assets.

“The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets — Nobody will do it better, it is pure GENIUS!” Trump roared in all caps.

He went on to say the bill would supercharge innovation, pull in boatloads of investment, and catapult America to the top of the digital finance world.

The prez also called on the House to pass it ASAP, without any nonsense or delays, and get it to his desk pronto.