Michaela
Anton Kobyakov, an adviser to Russian President Vladimir Putin, has accused the U.S. government of using cryptocurrency and gold to strategically devalue its federal debt amid declining confidence in the dollar.
Key points:
- Anton Kobyakov claims the U.S. is using stablecoins and gold to devalue its $35 trillion debt, moving portions of it into the “crypto cloud.”
- Strategies under discussion include Senator Cynthia Lummis’ Bitcoin Act and stablecoin regulation, aimed at managing debt while maintaining the dollar’s global dominance.
- Russia is developing a ruble-backed stablecoin to reduce reliance on U.S. dollar stablecoins, highlighting how governments are leveraging crypto in national economic strategies.
“The U.S. is now trying to rewrite the rules of the gold and cryptocurrency markets. Remember the size of their debt—35 trillion dollars. These two sectors are essentially alternatives to the traditional global currency system,” Kobyakov stated during a press briefing at the Eastern Economic Forum.
Kobyakov compared the U.S. financial situation to the 1930s and 1970s, claiming that “the U.S. plans to solve its financial problems at the world’s expense.” He added that the government is now attempting this by moving everyone into the “crypto cloud,” suggesting that placing portions of federal debt into stablecoins would allow Washington to devalue it over time.
“Put simply: they have a $35 trillion currency debt, they’ll move it into the crypto cloud, devalue it — and start from scratch. That’s the reality for those who are so enthusiastic about crypto,” Kobyakov stated.
Amid growing debates over digital assets and federal debt, one strategy gaining attention involves using cryptocurrency as a financial tool. Senator Cynthia Lummis’ Bitcoin Act proposes that the government acquire 1 million Bitcoin over five years and hold it for two decades, unless the tokens are used to reduce federal debt.
U.S. officials stress, however, that the main goal of stablecoins is to strengthen the U.S. dollar’s status as the world’s dominant currency. In July, President Donald Trump advanced U.S. crypto policy regarding stablecoins by signing the GENIUS Act into law, marking a notable step in digital asset regulation.
Russia, on the other hand, is developing a ruble-backed stablecoin aimed at reducing dependence on the U.S. dollar stablecoin Tether, following the blocking of wallets tied to an EU-sanctioned Russian crypto exchange.
The debate over stablecoins, gold, and Bitcoin emphasizes how governments are increasingly exploring digital assets to manage federal debt, maintain currency dominance, and influence global financial systems, signaling a new era where crypto is entwined with national economic strategy.
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- Stablecoins Explained: How They Connect Fiat and Crypto Worlds
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
