Top story: USD-backed stablecoins collectively hold more U.S. Treasuries than countries such as Norway, Saudi Arabia, South Korea, and Germany, sitting just outside the top 10 holders of USTs. USD-backed stablecoins could become one of the largest purchasers of U.S. Treasuries and prevent a debt crisis, reports the WSJ. Concerns around a potential debt crisis arise as funding for healthcare and retirement programs grow, historic buyers of U.S. debt retreat from the market, and digitized solutions facilitate the use of competing currencies in an increasingly multipolar world. If the DeFi sector continues to grow, stablecoins issued on public blockchains could underpin a reliable new source of demand for U.S. Treasuries, similar to Eurodollars, ultimately reducing the risk of a failed Treasury auction. More news from around the world: 1. Australia’s main stock market lists first spot #Bitcoin ETF 2. BIS reports wholesale CBDCs more likely than retail CBDCs in near term 3. Over 60M users can now buy BTC and ETH via Itaú Unibanco, LATAM’s largest bank 4. Turkish bank Garanti BBVA launches digital asset wallet 5. Investments in #crypto startups surpass $100B 6. Japanese retailer issues digital green bond onchain 7. Bank of America finds younger investors prefer crypto to stocks Sources below ⬇️