Arthur Hayes: TBTF banks' issuance of stablecoins could release $6.8 trillion in Treasury purchasing power.

[Coin World][Arthur Hayes: TBTF banks will release up to $6.8 trillion in Treasury purchasing power through stablecoin issuance] Arthur Hayes, co-founder of a trading platform, stated that large "too big to fail" (TBTF) banks have two pools of funds, and as long as they have the necessary profit potential, they are ready to purchase US Treasury bonds worth trillions of dollars at any time. These two pools of funds are demand/time deposits and reserves held at The Federal Reserve. The reason I focus on these eight "too big to fail" banks is that their existence and profitability depend on the government's guarantee of their debts, and the formulation of banking regulations benefits them more than non-TBTF banks. Therefore, as long as they can make some profit, they will follow the government's directives. Bessent requires them to purchase their junk bonds, and in return, Bessent will provide them with risk-free returns. I believe the reason US Treasury Secretary Bessent is so enthusiastic about "stablecoins" is that through stablecoin issuance, TBTF banks will release up to $6.8 trillion in Treasury purchasing power. These inactive deposits can then be reused in the unstable fiat financial system, thereby boosting the market.