Russia China Iran Archives - Coin Engineer https://coinengineer.net/blog/tag/russia-china-iran/ Btc, Coins, Pre-Sale, DeFi, NFT Sun, 23 Mar 2025 11:17:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png Russia China Iran Archives - Coin Engineer https://coinengineer.net/blog/tag/russia-china-iran/ 32 32 Could Dollar-Backed Stablecoins Fall Behind? Here’s Why! https://coinengineer.net/blog/could-dollar-backed-stablecoins-fall-behind-heres-why/ https://coinengineer.net/blog/could-dollar-backed-stablecoins-fall-behind-heres-why/#respond Sun, 23 Mar 2025 12:00:26 +0000 https://coinengineer.net/blog/?p=38919 Bitcoin maximalist Max Keiser believes gold-backed stablecoins will outcompete USD-pegged alternatives on a global scale due to gold’s inflation-hedging capabilities and minimal volatility. According to Keiser, countries that are adversarial to the United States will prefer stablecoins backed by gold rather than the US dollar. Keiser stated: “Russia, China, and Iran are not going to

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]]> Bitcoin maximalist Max Keiser believes gold-backed stablecoins will outcompete USD-pegged alternatives on a global scale due to gold’s inflation-hedging capabilities and minimal volatility. According to Keiser, countries that are adversarial to the United States will prefer stablecoins backed by gold rather than the US dollar.

Keiser stated:

“Russia, China, and Iran are not going to accept a US dollar stablecoin. I predict they will counter the USD stablecoin with a gold-backed one. China and Russia have a combined 50,000 tonnes of gold — far more than what’s officially reported.”

stablecoin

Gold vs. USD Stablecoins on the Global Stage

Keiser warns that US lawmakers’ plans to extend US dollar dominance through dollar-backed stablecoins are threatened by the potential rise of gold-backed stablecoins.

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In June 2024, stablecoin issuer Tether launched Alloy (aUSD₮), a gold-backed stablecoin collateralized by Tether’s XAU₮ — a token offering a paper claim to physical gold.

PointsVille founder and former VanEck executive Gabor Gurbacs said:

“Tether Gold is what the US dollar used to be before 1971. XAU₮ is up 15.7% year-to-date, while the broader crypto market is in decline. Foundations and businesses should hedge their holdings with XAU₮.”

The US Strategy for Dollar-Pegged Stablecoins

US Treasury Secretary Scott Bessent stated that the Trump administration will focus on leveraging USD stablecoins to protect the dollar’s reserve currency status and maintain global financial dominance.

Speaking at the March 7 White House Crypto Summit, Bessent emphasized that establishing a stablecoin regime is a top priority for the administration. Federal Reserve Governor Christopher Waller also expressed support for using stablecoins to strengthen the dollar’s position before Bessent’s comments.

US lawmakers have introduced several bills aimed at establishing a comprehensive regulatory framework for stablecoins, including the Stable Act of 2025 and the GENIUS Stablecoin Bill.

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