[Standard Chartered Bank executives: Stablecoins can mitigate the negative impact of the Fed's rate cuts on Treasury bonds and money market tokens] Golden Finance reported that Alexander Deschatres, head of sponsor responsibility for Asia at Standard Chartered Bank, said that stablecoins can mitigate the negative impact of the Fed's rate cuts on Treasury bonds and money market tokens. Alexander Deschatres said: "The $170 billion stablecoin supply is equivalent to a sum of money that can be converted into money market tokens and treasury tokens, which has the potential to provide a buffer for the negative impact of the Fed's rate cuts." He believes that according to federal funds futures, the market currently expects a 100 basis point rate cut this year, which means that the benchmark borrowing cost will fall to 4.5% by the end of the year. However, this is an attractive yield compared to passively holding stablecoins.