US Treasury: Money Market Funds Bought 85% of Summer T-Bills, Stablecoin Issuers Hold $200B
- —Money market funds bought about 85% of $550B+ in new T-bills issued in July–August
- —Stablecoin issuers hold nearly $200 billion in short-term US government debt
- —T-bills outstanding grew roughly 8% over the two-month period
- —About 84% of USDC reserves sat in the Circle Reserve Fund as of June 30
Why it matters: Stablecoins' true role in funding US debt may be larger than the standalone $200 billion figure suggests.
Source: 2Bitcoins.ru