America's crypto power move

With the Genius Act, the U.S. just pulled off the biggest power move in crypto history.

Hey, it’s Marc.

President Trump just signed the GENIUS Act – the first federal crypto law.

Stablecoins now have clear legal ground in America.

Here's why this isn't just crypto news, but the biggest geopolitical power play in crypto history. 

Global dollar dominance

What happened: On July 18, 2025, Trump signed the GENIUS Act into law with a 308-122 House vote and 68-30 Senate approval. For the first time ever, stablecoins have clear federal rules.

• Stablecoins now require full reserves, public audits, and AML compliance

• Private companies can issue digital dollars, backed 1:1 by U.S. Treasuries

Treasury Secretary Scott Bessent told Congress the U.S. stablecoin market could grow from $200 billion to $2 trillion in the next few years. 

With the Genius Act, every dollar of that growth creates new demand for U.S. government debt. The U.S. gets cheap financing (more buyers for its debt) without needing to print new money or raising taxes. 

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Bretton Woods of the digital age

This is the 1944 Bretton Woods moment of the digital age. And the biggest U.S. financial infrastructure shift since the 1970s.

Under Bretton Woods (1944-1971), the U.S. made the dollar central to global transactions by guaranteeing foreign central banks could exchange dollars for gold at $35 per ounce. Countries had to hold dollars as reserves, making it "as good as gold" for international trade.

The GENIUS Act creates a similar mechanism: stablecoins must be backed 1:1 by U.S. Treasuries and dollars, making digital dollars "as good as physical dollars" for global payments. But here's the genius part — instead of the U.S. government guaranteeing convertibility, private companies guarantee it while earning Treasury yields.

Why the Genius Act is genius

The genius part: By holding Treasuries, stablecoins issuers are earning Treasury yields = risk free profits. All while spreading dollar dominance globally.

The mechanism is brilliant:

• All U.S. stablecoins must be backed 1:1 by U.S. Treasuries and dollars

• Issuers keep 100% of the Treasury yields (currently 4%+ on short-term, 5%+ on long-term)

• Users get digital dollars, issuers get 𝗿𝗶𝘀𝗸-𝗳𝗿𝗲𝗲 𝗽𝗿𝗼𝗳𝗶𝘁𝘀

• More stablecoins = more Treasury demand = cheaper U.S. borrowing costs

In other words: The US built a profit engine that strengthens the dollar while private companies fight for market share. The more they compete, the more Treasury debt gets purchased, the stronger the dollar becomes globally.

• Tether.io became one of the most profitable companies on Earth doing that. They make $13B annually from yields on USDT reserves, 45M per employee. 

• Circle makes ~$2B annually just from Treasury yields on USDC reserves. The U.S. just turned stablecoins into a tool for dollar dominance. 

The 2nd power move

Then came the 2nd power move: Tether CEO Paolo Ardoino just confirmed they're bringing USDT into the U.S. market and launching a separate U.S.-specific stablecoin.

Why this is matters: