According to CoinDesk, Federal Reserve Governor Christopher Waller said that the impact of the crypto industry on the dollar appears to be beneficial. As long as stablecoins are pegged to the dollar, as 99% of tokens are now, they will increase the global strength of the dollar. Despite concerns that digital currencies may undermine the stability of the dollar, Waller believes that with the rise of decentralized finance (DeFi), the reliance of stablecoins on the dollar may actually strengthen the US fiat currency. He pointed out that most DeFi transactions use stablecoins, and 99% of the market value of these tokens is pegged to the value of the US dollar. Therefore, any expansion of transactions in the DeFi world is likely to strengthen the dominance of the US dollar. Although Waller acknowledged that people's shift from using the US dollar to using digital currencies in the future may still pose a threat to monetary policy, he believes that repeated remarks about the decline of the US dollar as a global reserve currency are empty.

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