Stablecoins, especially those pegged to the US dollar, play a critical role in supporting the American economy, according to Howard Lutnick, CEO of Tether Holdings' custodian Cantor Fitzgerald. These stablecoins contribute to economic stability by increasing the demand for US Treasury bills.
Lutnick voiced his support for stablecoins during a Chainalysis Conference, highlighting the continued importance of the dollar's global hegemony.
“The dominance of the dollar is critical for the United States,” said Lutnick, emphasizing the importance of stablecoins such as Tether (USDT) and Circle (USDC) in supporting the American economy.
Stating that stablecoins backed by fiat currencies increase the demand for US Treasury bills, Lutnick also stated that they do not pose a systemic risk to the global financial system.
The CEO's comments come as debate continues over the role of stablecoins in the crypto market and their impact on traditional financial systems.
With Tether's $107 billion market cap and Circle's $32.25 billion USDC, stablecoins have become an integral part of crypto trading, serving as funding currencies and collateral for derivatives.
During periods of market volatility, stablecoins have served as a haven for investors, providing stability amid fluctuations in other digital assets.
Despite concerns about Terra's algorithmic stablecoin UST in May 2022, Tether maintained investor confidence by fulfilling its redemptions and reassuring the market about its reserves.
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So who will benefit?
Our friends who have not activated the futures section yet, while activating your FUTURES trading section, you will earn 10 dollars when you open it by entering my reference code 88623008.
I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward by MAY 1 can do so. After activating your account, all you have to do is open your first futures transaction.
The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
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WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
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