The United States wants to use cryptocurrency to "erase" 35 trillion debt?

Author: Shen'en

Hey everyone, there's another big news breaking in the blockchain world! An advisor to Russian President Vladimir Putin made a statement at the Eastern Economic Forum, claiming the United States is secretly planning a "financial reset," intending to use cryptocurrency and gold as tools to wipe out its massive $35 trillion national debt in one fell swoop!

This isn't some conspiracy theory; it's what Putin's advisor, Anton, publicly stated at a formal press conference: "The United States is attempting to rewrite the rules of the gold and cryptocurrency markets. Don't forget the scale of their debt—$35 trillion. These two sectors are essentially alternatives to the traditional global monetary system." Debt Crisis, a Heavy Burden on the United States Let's first examine just how staggering the US debt truly is. Currently, the US national debt has reached $37.43 trillion, a more than tenfold increase since 1981. The annual interest payments alone exceed $1 trillion, making it the third-largest expenditure in the US fiscal system, behind only Social Security and military spending. How do Americans plan to repay such a massive debt? The answer may shock everyone—they may not even intend to pay it back honestly! Cryptocurrency as a "lifeline"? Putin's advisors revealed that the United States plans to devalue its debt by converting it into dollar-denominated stablecoins, allowing the country to "start over." It's like moving debt "into a crypto cloud" and devaluing it with a single click. The United States is indeed making big moves in stablecoins. In July of this year, President Trump signed the United States National Innovation Guidance and Establishment of Stablecoins Act (GENIUS Act), which established a regulatory framework for dollar-denominated stablecoins.

Former House Speaker Paul Ryan even bluntly stated: "Stablecoins backed by the US dollar provide demand for US public debt and provide a way to keep up with China."

Stablecoins: "New Buyers" of US Treasuries

Stablecoins have become an important participant in the US Treasury bond market.

• Tether, the largest stablecoin issuer, increased its holdings of U.S. Treasury bonds from $63 billion to $127 billion

• Circle's holdings increased from $9 billion to $24 billion

• The two together account for 3.2% of the short-term debt market

What does this mean? Stablecoin issuers have become important buyers of U.S. Treasury bonds, creating new demand for U.S. debt.

Is history repeating itself? The US's "traditional operations" Putin's advisor also pointed out that this isn't the first time the US has done something like this. He compared the US plan to its practices in the 1930s and 1970s, arguing that the US plans to once again solve its financial problems "at the expense of the world." The difference is that this time the tools are no longer traditional financial derivatives, but rather crypto assets and gold, two "alternatives" to the traditional monetary system.

Bigwigs' Opinion: The Dollar's Trouble Boosts the Rise of Crypto

Ray Dalio, founder of Bridgewater Funds, has also expressed similar views. He believes that:

the debt crisis of the US dollar and other reserve currencies is threatening their attractiveness as reserve currencies, and this is one of the factors driving up the prices of gold and cryptocurrencies. He even said that cryptocurrency has become a "supply-constrained alternative currency." If the supply of the US dollar increases or demand for it decreases, cryptocurrency will become an attractive alternative. Former IMF Chief Economist Kenneth Rogoff analyzed the issue from the perspective of the "underground economy," pointing out that cryptocurrency is eroding the US dollar's dominance in the global underground economy (which is estimated to be worth $20-25 trillion), which in turn weakens the US dollar's hegemony from another perspective. Bitcoin's "digital gold" attributes have made it increasingly important in this financial game between major powers. In May 2025, amid a sell-off in long-term U.S. Treasury bonds, Bitcoin prices hit a record high, demonstrating that under extreme market conditions, investors are beginning to view Bitcoin as a safe-haven alternative. Bitcoin even broke through the $100,000 mark, surpassing silver and Saudi Aramco in market capitalization to become the world's seventh-largest asset. China's Calm Stance Amidst the cryptocurrency frenzy, China has maintained a relatively calm attitude. Rather than blindly following the trend, China has chosen a prudent path, promoting the internationalization of the RMB and gradually increasing its voice in the international financial system through the development of a digital RMB. This stands in stark contrast to the attitudes of the United States and Russia, demonstrating China's unique thinking on financial strategy. This revelation by Putin's advisor reveals a new global financial landscape taking shape: the traditional hegemony of the US dollar is facing challenges, with cryptocurrencies and gold becoming new tools of negotiation. Countries are preparing for the coming financial revolution. The US is attempting to resolve its debt crisis through cryptocurrency, Russia is launching its own stablecoin, and China is vigorously developing the digital yuan—this silent "currency war" is quietly escalating. What role will cryptocurrency play in the future financial world? Will the US dollar's hegemony be brought to an end? And how can we protect our wealth?

These questions may be what we should really think about after hearing what Putin’s advisors have revealed.