
The soothsayers at Standard Chartered, Messrs. Kendrick and Davies, predict the stablecoin market will balloon to a staggering $2 trillion by 2028. As this digital bazaar expands, its proprietors-Tether, Circle, and their ilk-shall find themselves in the unenviable position of hoarding “safe” assets like misers clutching pearls. Their voracious appetite for Treasury bills threatens to outstrip supply, creating a deficit of $900 billion over the next three years. A comedy of errors, indeed, where the government’s debt becomes the hottest ticket in town.