A senior adviser to Russian President Vladimir Putin has alleged that the United States is getting ready to make use of cryptocurrencies —particularly US greenback stablecoins—alongside gold to “devalue” and in the end reset its towering nationwide liabilities. Speaking on the Eastern Economic Forum in Vladivostok, Anton Kobyakov framed crypto and gold as “different currencies” to the dollar-centric system and argued that Washington goals to harness them to deal with what he referred to as a disaster of confidence within the dollar.
“Right now, the United States is making an attempt to vary the principles on the gold and cryptocurrency markets. Just take into consideration their debt – $35 trillion. These are two different currencies to the worldwide market,” Kobyakov stated.
He added: “Washington’s actions on this route clearly exhibit one of many primary American targets. They wish to clear up the issue of reducing the greenback’s belief. The United States, because it was within the Thirties and Seventies, will clear up its monetary issues on the expense of the entire world, driving everybody into the cryptocurrency cloud.”
Kobyakov’s most arresting declare was operational: “Over time, when a part of the US authorities debt is positioned in stablecoins, the US will devalue this debt. In different phrases, they’ve a $35 trillion debt, they drive it into the cryptocurrency cloud, devalue it and begin from scratch.” The remarks, which had been circulated by Russian state-adjacent retailers, didn’t embrace an in depth mechanism for a way “putting” sovereign obligations into stablecoins would alter their actual worth.
Russia simply accused the US of utilizing crypto to wipe out its $35T debt.
Putin’s adviser Kobyakov says Washington will shove debt into stablecoins, devalue it, and reset the system.pic.twitter.com/IwmiLYp2ic
— TFTC (@TFTC21) September 8, 2025
Can Bitcoin And Crypto (Stablecoins) Erase The US Debt?
The accusation lands amid two related backdrops: a US debt load now measured within the mid-$30 trillions and a fast-expanding stablecoin and tokenized-Treasury ecosystem that nonetheless stays orders of magnitude smaller than public debt. Treasury information and Congressional dashboards put gross federal debt at roughly $37.4 trillion in early September, with about $30.1 trillion held by the general public. By distinction, the complete stablecoin market stands within the high-$200 billions, and tokenized US Treasury merchandise complete about $7.4 billion—hardly a platform able to “absorbing” sovereign liabilities at scale.
US coverage developments complicate Kobyakov’s narrative in one other approach. In July, President Donald Trump signed the GENIUS Act, the primary federal framework for fee stablecoins. The regulation requires 100% reserve backing in money and short-term Treasuries and mandates common public disclosures—design decisions that, if something, tie stablecoin progress to incremental demand for Treasury payments quite than a mechanism for extinguishing US obligations. That is, extra regulated stablecoins usually imply extra private-sector shopping for of T-bills to again these tokens, not fewer Treasuries excellent.
Kobyakov’s historic analogy—invoking the Thirties and Seventies—references episodes when US authorities modified the financial regime: FDR’s greenback devaluation in opposition to gold in 1933–34 and Nixon’s 1971 closure of the gold window. But translating that precedent right into a “stablecoin devaluation” is tenuous.
Stablecoins are issued by non-public or specifically licensed entities and are designed to be redeemed at par; shifting authorities liabilities “into” them would neither novate the debt nor change its authorized phrases. Any real devaluation of dollar-denominated debt would nonetheless happen by way of acquainted channels—greater inflation, damaging actual charges, buybacks at reductions, or maturity transformation—not by wrapping the debt in token kind.
Beyond the stablecoin debate, Washington has already sketched another pathway: a Strategic Bitcoin Reserve. On March 6, 2025, the White House issued an government order establishing a federal bitcoin reserve alongside a US Digital Asset Stockpile to handle government-owned crypto (largely from forfeitures) on a long-term, “budget-neutral” foundation; companion laws—the BITCOIN Act launched in each chambers—would codify governance and disclosure guidelines.
US President Donald Trump himself has floated the concept in blunt phrases. In an Aug. 2024 Fox Business interview with Maria Bartiromo, he mused: “Who is aware of? Maybe we’ll repay our $35 trillion, hand them somewhat crypto test, proper? We’ll hand them somewhat Bitcoin and wipe out our $35 trillion.” The comment was rhetorical quite than an operational plan, but it surely prefigured the administration’s March 6, 2025 government order establishing a Strategic Bitcoin Reserve.
At press time, Bitcoin traded at $113,237.
Featured picture created with DALL.E, chart from TradingView.com
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