Tesla FSD Boom, Trump Stablecoin Power Play

● Tesla Explodes, FSD Boom Ignites, AI Valuation Shifts

Tesla Surges 8.46% as the Key Driver Shifts From Q2 Deliveries to the FSD Subscription Economy

The most important point in today’s Tesla news is not simply that the stock rose to $411.84.

A seven-year-old Tesla vehicle changed materially through a software update, reinforcing the market’s view that Tesla should be valued less as an automaker and more as an AI platform company.

This development connects Tesla’s FSD Version 14 Lite rollout, the revival of Hardware 3 vehicles, higher Q2 delivery expectations from Wall Street, a reassessment of FSD subscription revenue, and a long-term robotaxi market scenario.

The key point often missed in other coverage is that Tesla’s stock move is increasingly being driven by recurring FSD subscription revenue rather than vehicle sales alone.

For investors, this represents a meaningful shift in the valuation framework.

1. Market backdrop: easing geopolitical risk lifted Nasdaq and Tesla shares

U.S. equities rebounded sharply today.

The S&P 500 rose 1.16%, the Nasdaq gained 2.07%, and the Dow added 0.59%.

The main driver was easing tension between the United States and Iran.

Reports indicating that escalation around the Strait of Hormuz had paused helped reduce concerns about global growth and inflation.

The Strait of Hormuz is a critical energy corridor through which roughly 20% of global oil flows pass.

Any disruption there could have pushed oil prices higher and directly affected rate expectations and inflation.

For markets, the day reflected a temporary easing of worst-case risk and a stronger appetite for risk assets.

Tesla outperformed the broader market by a wide margin.

The stock rose 8.46% to $411.84.

That suggests the move was driven by more than the general market rebound.

2. Q2 delivery outlook: Morgan Stanley’s revision was the visible catalyst

Tesla is approaching its Q2 delivery release.

The current Wall Street consensus from 22 firms is about 406,024 units.

Morgan Stanley raised its Q2 delivery estimate to 413,000 units.

The market responded positively to that revision.

The new estimate is roughly 7,000 units above the prior consensus.

Energy storage deployment expectations were also cited at 13.8 GWh, adding to the view that Tesla’s energy business remains a support factor.

However, the core question is whether an additional 7,000 deliveries is enough to justify an 8%+ stock move.

A simplified estimate suggests those extra deliveries could add roughly $300 million in revenue.

After margins, incremental profit would likely be closer to $50 million.

That is positive, but not large enough to explain such a sharp rise in Tesla’s market capitalization.

The larger driver appears to be elsewhere.

3. The real stock driver: FSD subscriptions change the valuation equation

The most important variable in today’s Tesla move is FSD subscription revenue.

As of Q1 2026, Tesla had 1.28 million active FSD subscribers, up 51% year over year.

The key difference is that FSD subscription revenue has a fundamentally different structure from vehicle sales.

Vehicle sales are exposed to manufacturing costs, logistics, raw materials, discounts, and interest rates.

By contrast, FSD subscriptions resemble software revenue.

Once development costs are absorbed, each additional subscriber contributes at a very high incremental margin.

That is why Wall Street assigns a premium to recurring revenue.

FSD subscription revenue was estimated at about $200 million for the quarter.

That is roughly four times the incremental profit implied by the delivery revision.

This difference matters.

Tesla is moving from a model defined by units sold to one increasingly shaped by how many vehicles pay for and retain FSD subscriptions.

That is a sign that the market is beginning to re-rate Tesla as a software and AI platform rather than a traditional automaker.

4. A seven-year-old Tesla changed: FSD Version 14 Lite reached Hardware 3 vehicles

The most symbolic development was the rollout of FSD Version 14 Lite to Hardware 3 vehicles.

Hardware 3 is the self-driving computer used in Model 3, Model Y, Model S, and Model X vehicles delivered roughly between 2019 and 2022.

Newer vehicles use Hardware 4, or AI4, a more capable chip platform.

The challenge is that FSD Version 14 is far more demanding on hardware resources.

Hardware 4 vehicles have received the latest updates more quickly, while Hardware 3 owners went about 14 months without a major release.

For those owners, that delay was significant.

Now FSD Version 14 Lite has started rolling out to Hardware 3 vehicles through early-access deployment.

Hardware 3 is estimated at about 4 million vehicles globally.

That means Tesla now has an opportunity to re-engage a large installed base for FSD subscriptions.

This is not simply a feature upgrade for older cars.

It is a way to reopen a dormant subscription market.

5. What changed in FSD Version 14 Lite

The update is more than a bug fix.

It appears to have changed the driving experience materially.

FSD can now be initiated from a parked state.
Drivers can select the desired drop-off or stopping point, including parking lots, roadside locations, driveways, and curbside areas.
The vehicle’s parking and stopping behavior has been improved.
Four speed profiles are available: Slow, Chill, Standard, and Hurry.
Lane-keeping performance has improved.
Pedestrian response has become more natural.
Merging behavior has improved.
Signal recognition and intersection handling are also reported to be better than before.

Early testers describe the experience as materially different from FSD 12.6.4.

Some users who tested the system across hills, highways, city streets, parking lots, and Supercharger locations in the Los Angeles area reported a feel closer to Hardware 4 vehicles.

This is where Tesla’s advantage remains clear.

For most automakers, a seven-year-old vehicle is effectively a legacy product.

Tesla can still materially improve the user experience on older vehicles through software.

That remains one of the company’s defining strengths in the EV market.

6. Why Musk said the update was difficult: Hardware 3 has about 15% of Hardware 4’s memory bandwidth

Elon Musk said the Hardware 3 update was not easy.

The reason is straightforward.

Hardware 3 is estimated to have only about 15% of the effective memory bandwidth of Hardware 4.

In practical terms, if Hardware 4 is an eight-lane highway, Hardware 3 is closer to one usable lane.

FSD must process camera input, road conditions, nearby vehicles, pedestrians, traffic lights, lane markings, and navigation paths in real time.

That requires not only compute capacity, but also sufficient data transfer speed.

Hardware 4 uses faster memory architecture, while Hardware 3 relies on an older LPDDR4-based setup with clear physical limitations.

In autonomy, even a 0.5-second delay can materially affect safety.

For that reason, Tesla did not simply port FSD Version 14 directly to Hardware 3.

Instead, it appears to have used a form of model compression and adaptation.

7. Model compression: a larger AI teacher was distilled into a smaller AI student

To understand the update, it helps to look at AI model compression.

A large FSD model running on Hardware 4 could not realistically be deployed in full on Hardware 3.

Tesla appears to have used the Hardware 4 model as a teacher and trained a lighter Hardware 3 model to mimic its behavior.

The teacher model learns from a wide range of real-world driving scenarios.

The student model is then compressed to follow that decision-making pattern as closely as possible.

In other words, Hardware 3 is not running the full FSD Version 14 model.

It is running a lighter version trained to reproduce the driving logic of the full model within Hardware 3 constraints.

This likely involved reducing mathematical precision, removing redundant parameters, and optimizing the system for lower memory bandwidth.

From an AI engineering perspective, this is a notable example of pushing software optimization to offset hardware limits.

8. Hardware 3 still cannot support robotaxi-grade autonomy

Investors should keep one distinction in mind.

Hardware 3 has improved materially, but it is still not equivalent to Hardware 4.

In particular, unsupervised FSD and robotaxi functionality remain difficult to support on Hardware 3.

The reason is again the hardware constraint.

A system operating at about 15% of Hardware 4’s bandwidth is unlikely to provide the margin needed for fully autonomous operation.

FSD Version 14 Lite should still be viewed as a more advanced Level 2 driver-assistance system that requires a human driver to remain present and attentive.

Hardware 3 vehicles may now offer a much stronger FSD experience, but they are still unlikely to be suitable for Tesla’s robotaxi network as revenue-generating autonomous units.

A hardware upgrade may be required, and in practice, vehicle replacement could remain the more realistic route.

Version 15 is also expected to involve a substantially larger model, which makes a Hardware 3 Lite version less likely.

That is a downside for Hardware 3 owners.

Still, Tesla has delivered the level of update it had indicated for those customers, which remains positive from a product credibility standpoint.

9. Why this matters for Tesla’s stock: 4 million Hardware 3 vehicles represent a large subscription pool

Hardware 3 is estimated at about 4 million vehicles.

These vehicles went roughly 14 months without a meaningful FSD update.

Some owners likely canceled subscriptions during that period.

Others may have seen little reason to keep paying.

That changes with the rollout of FSD Version 14 Lite.

Owners may now be more willing to re-subscribe and test the improved system.

That is the key transition for Tesla.

It can generate renewed subscription revenue from the existing fleet without selling additional cars.

As Tesla’s model expands from vehicle sales to software subscriptions, the market may continue to re-rate the company as an AI platform rather than a conventional automaker.

That is why the stock appears to have reacted more strongly to the FSD subscription opportunity than to the delivery revision.

10. Cathie Wood’s robotaxi view: a $1 billion market can become a $10 trillion market

Cathie Wood has said the robotaxi market could grow to more than $10 trillion over the next five to ten years.

The current autonomous taxi market is estimated at about $1 billion.

If that forecast proves directionally correct, the market would expand by roughly 10,000 times.

Given that the global automotive market is estimated at about $3 trillion, robotaxis could ultimately become a larger industry than vehicle sales.

The core logic is straightforward.

Consumers may shift from owning cars to buying mobility services.

In that case, the platform that can move passengers most safely, quickly, and cost-effectively could capture most of the market.

Cathie Wood argues that Tesla’s vertically integrated manufacturing base could give it a cost advantage over Waymo.

She has suggested Tesla’s cost structure could be up to 50% lower than Waymo’s by 2030.

Lower costs would support lower prices, which in turn could attract more riders and data, reinforcing network effects.

That is the basis for a winner-take-most or winner-take-nearly-all structure in robotaxis.

11. The key takeaway missed in many reports: Tesla is shifting from sales volume to active users

The core issue is that Tesla is increasingly moving from an automaker to an AI platform built around active users.

Historically, Tesla’s investment case was simple.

If deliveries beat consensus, the stock tended to rise; if they disappointed, the stock tended to fall.

That framework is changing.

Going forward, the market is likely to focus on more than deliveries.

How quickly FSD active subscribers grow.
How low the churn rate remains.
How much re-subscription occurs among Hardware 3 owners.
How much FSD subscription revenue offsets weaker auto margins.
Whether the robotaxi timeline translates into actual revenue.
Whether the energy storage business becomes a stable growth pillar.

These indicators may become the company’s new key valuation drivers.

FSD subscriptions are particularly important because they allow Tesla to monetize vehicles long after the initial sale.

Traditional automakers lose most of the economic relationship after delivery.

Tesla can continue generating revenue through software.

That difference is central to the company’s premium valuation.

12. One item requiring caution: the SpaceX reference should be verified against public market data

The original text referred to SpaceX trading at $164.19, rising 7.15%, and discussed a potential Nasdaq-100 inclusion.

That point requires verification against standard public equity market data.

SpaceX is not structured as a conventional public stock listed on Nasdaq.

The reference may reflect a private-market trading platform, a specialized product, or confusion with another security.

Investors should verify listing status, index inclusion filings, and the nature of the traded instrument before drawing conclusions.

Nasdaq-100 inclusion can be important because it may create forced demand from ETFs such as QQQ.

For that reason, accuracy matters.

13. Key upcoming Tesla items to watch

The first item is the actual Q2 delivery release.

It will matter whether Tesla comes in above the 406,024-unit consensus and the 413,000-unit Morgan Stanley estimate.

The second is the rollout scope of FSD Version 14 Lite.

Investors should watch for expansion beyond North American early access to broader subscriber groups and eventually approved markets such as Europe, Australia, New Zealand, and Korea.

The third is FSD subscriber growth.

The next earnings release should show whether active subscribers increased meaningfully.

The fourth is robotaxi-related communication.

Reports suggested a possible major announcement at Giga Texas on July 7, U.S. time.

Investors should determine whether the focus is Cybercab, operating regions, regulatory approval, service pricing, or hardware requirements.

The fifth is Tesla’s Hardware 3 upgrade policy.

Whether upgrades are free, paid, or tied to vehicle replacement will affect both customer satisfaction and long-term economics.

14. Investor summary: the numbers Tesla shareholders should focus on at $411

With Tesla at $411.84, short-term volatility can obscure the larger picture.

Over the medium term, the relevant metrics are becoming clearer.

Where Q2 deliveries land relative to 406,000 and 413,000 units.
How quickly active FSD subscribers grow from 1.28 million.
What percentage of the roughly 4 million Hardware 3 vehicles re-subscribe.
Whether FSD subscription revenue can scale beyond the $200 million quarterly level.
Whether the robotaxi roadmap moves from concept to regulatory progress.
Whether the 13.8 GWh energy storage deployment estimate translates into actual results.

The relevant question for Tesla investors is no longer just how many cars were sold.

It is also how long those vehicles continue to generate software revenue after delivery.

That is the core framework shift in how Tesla should be evaluated.

< Summary >

Tesla rose 8.46% to $411.84.

The visible catalysts were a broader Nasdaq rally and Morgan Stanley’s higher Q2 delivery estimate.

The more important factor was the rollout of FSD Version 14 Lite to Hardware 3 vehicles, which reopened the FSD subscription opportunity.

Hardware 3 is limited to about 15% of Hardware 4’s memory bandwidth, so Tesla used a distilled model approach to adapt the software.

Roughly 4 million Hardware 3 vehicles could now re-enter the FSD subscription pool.

At the same time, Hardware 3 remains constrained for unsupervised FSD and robotaxi use.

Cathie Wood continues to frame robotaxis as a market that could expand dramatically over the long term.

Going forward, Tesla’s key metrics will include deliveries, active FSD subscribers, robotaxi progress, and energy storage growth.

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*Source: [ 오늘의 테슬라 뉴스 ]

– 머스크도 “쉽지 않았다”고 한 그 작업, 결과가 나왔다 — 7년 된 테슬라 오늘 무슨 일이, $411 주주는?

● Trump Stablecoin Power Play, US Debt, Dollar War, XRP Surge

The Real Reason Trump Is Focused on Stablecoins: The Structure in Which Circle’s USDC, U.S. Treasuries, and XRP Rise Together

The core issue is not simply whether Trump is pro-crypto.

The more important point is that stablecoins create demand for U.S. Treasuries, help defend dollar dominance, and expand a private money market at the same time.

This connects Circle’s USDC, Tether, XRP, Ripple, crypto regulation, and the U.S.-China currency power struggle in one framework.

On the surface, it appears to be a crypto innovation story, but at a deeper level it is a major financial market outlook issue that affects U.S. fiscal policy, the Treasury market, the tax system, and global remittance networks.

1. The Most Practical Reason Trump Is Pushing Stablecoins

The Trump administration’s strong commitment to stablecoin legalization can be summarized in two points.

First, stablecoins can become a new buyer of U.S. Treasuries.
Second, dollar-based stablecoins can extend dollar dominance into the digital economy.

Stablecoins generally hold cash-like assets or short-term U.S. Treasuries to maintain a 1:1 value with the dollar.

As issuance of USDC or USDT increases, issuers must secure corresponding reserve assets.

This can increase demand for short-term U.S. Treasuries.

For the U.S. government, this effectively creates a new source of Treasury demand at a time of rising fiscal deficits.

From Trump’s perspective, the structure is attractive.

The money is not directly issued by the government, yet it functions like dollars in the market through private issuers.

Those issuers purchase U.S. Treasuries as reserve assets.

As a result, the U.S. can ease some pressure from Treasury issuance while expanding a digital dollar ecosystem.

2. The Political Argument That Stablecoins Are a Tool to Defend Dollar Dominance

The political framing around stablecoins in the U.S. has also shifted.

Initially, the main argument was that stablecoins could become a source of demand for U.S. Treasuries.

However, that rationale is difficult for Democrats to accept as a public policy justification.

The concern is that Trump could use stablecoins to strengthen fiscal flexibility and expand cash-like policy space ahead of midterm elections.

As a result, the current framing increasingly presents stablecoins as a tool in the U.S.-China currency competition.

In other words, the argument is that China’s yuan is advancing, and the U.S. must bring dollar-based stablecoins into the regulatory framework.

This framing is politically stronger.

If stablecoins are presented as a way to secure demand for Treasuries, the interest alignment is too explicit.

But if they are described as a defense of dollar dominance and a countermeasure to China, Democrats may find it harder to oppose them directly.

That said, one important view emphasized in the original discussion is that the yuan is not in a position to replace the dollar in the near term.

China is expanding CIPS as an international payment network, but its participation base and settlement infrastructure remain limited relative to SWIFT.

China’s bond market is also not fully open, and yuan holdings have limited utility outside the domestic system.

Accordingly, the yuan is gaining relevance, but not at a pace that would displace the dollar in the short term.

Even so, the U.S. remains concerned for another reason.

Central banks and governments around the world are not fully abandoning the dollar, but they are increasingly seeking to reduce dependence on it.

The gradual decline in the dollar’s share of global foreign exchange reserves is consistent with this trend.

3. The Return of Private Money Through Stablecoins

The most significant change introduced by stablecoins is the expansion of money creation back into the private sector.

Historically, medieval Europe relied on different currencies issued by local rulers and nobles.

As states developed tax and administrative systems, monetary issuance became increasingly centralized.

That transition took centuries.

Stablecoins partially reverse that trajectory.

Unlike state-issued legal tender, privately issued digital tokens can be used for purchases, remittances, investment, and payroll.

If this becomes widespread, the short-term effects may appear positive for the economy.

Private-sector credit creation, liquidity expansion, and stronger financial-market and consumption activity may follow.

However, the long-term implications are more complex.

Governments may find tax collection more difficult.
Accounting standards may become unclear.
There is no final backstop if a stablecoin issuer fails.
Private money could erode the state monetary system.
In inflationary economies, dollar stablecoins could effectively become the primary medium of exchange.

This is particularly relevant if payroll or business expenses are settled in stablecoins.

Under the traditional banking system, wage payments leave clear accounting records and tax trails.

But transfers between crypto wallets may create incentives to bypass accounting obligations.

That could weaken the government’s revenue base.

4. The Core Issues in the Genius Act and the Clarity Act

The Genius Act and the Clarity Act are frequently cited in discussions of stablecoin legalization.

They are central to the U.S. effort to build a regulatory framework for crypto assets.

However, the key criticism raised in the original discussion is that policy adoption is moving faster than post-failure accountability structures.

In particular, there is still no clear answer on how investors and users would be protected if a stablecoin issuer fails.

Stablecoins are presented as stable by design.

But their stability depends on reserve quality, accounting transparency, legal liability, and redemption capacity.

They are not covered by deposit insurance, and central banks do not act as lender of last resort for them.

If these safeguards are not properly designed, stablecoins could become a new source of financial instability rather than financial innovation.

5. The Critical Difference Between CBDCs and Stablecoins

A CBDC is a central bank digital currency.

It is issued and backed directly by the state and the central bank.

By contrast, a stablecoin is a digital token issued by a private company.

CBDCs have been studied for nearly a decade in multiple countries in areas such as accounting, bank balance sheet treatment, the impact on commercial banks, and monetary policy transmission.

Stablecoins, by contrast, have expanded first in the market, with regulation following later.

As a result, accounting standards, tax treatment, corporate financial statement recognition, financial institution holding rules, and capital requirements remain unresolved.

It may take time for international accounting standards and Basel-related rules to establish a clear framework.

Stablecoins can accelerate innovation, but for companies and financial institutions they may also create significant accounting complexity.

6. Why Circle and USDC Are Drawing Attention

The most notable point in the original discussion is the possibility that Circle could become more important than the broader crypto market.

In the past, many expected stablecoin growth to lift Bitcoin, Ethereum, and the broader altcoin market together.

Today, the structure is different.

The benefits of stablecoin legalization may concentrate less on the broader crypto market and more on the key issuers of dollar stablecoins.

Circle is at the center of that trend.

Circle issues USDC.

USDC, together with Tether’s USDT, is one of the leading dollar stablecoins.

For the U.S. government, Circle’s more transparent and regulation-friendly model may be preferable.

Tether has the largest global market share, but its structure may not align fully with U.S. policy preferences.

By contrast, Circle is better positioned to operate within the U.S. regulatory framework.

As stablecoin markets expand, Circle’s influence could increase further.

This is not only a matter of higher USDC issuance, but also of becoming a core provider in the digital dollar infrastructure.

7. Why Stablecoin Growth Is Not Necessarily Positive for Crypto as a Whole

Many investors assume that if stablecoins become regulated, the entire crypto market will benefit.

However, the view expressed in the original text is more cautious.

The direct beneficiaries of stablecoin legalization are likely to be the issuers and the U.S. Treasury market.

It is less certain that Bitcoin or altcoins will rise in parallel as they did in earlier cycles.

The reason is straightforward.

Stablecoins are closer to a payment, remittance, and dollar storage instrument than a speculative investment asset.

If their primary purpose is to expand demand for U.S. Treasuries and preserve dollar dominance, that direction may actually diverge from the decentralized ethos of crypto.

In that sense, stablecoin legalization is closer to the digital extension of the dollar system than to a victory for crypto as a whole.

8. Why XRP and Ripple Are Regaining Attention

As the limitations of stablecoins become clearer, XRP and Ripple are once again receiving attention.

The key point here is not a recommendation to buy XRP, but an assessment of its long-term functional role.

XRP was originally designed to improve cross-border remittance and foreign exchange settlement efficiency.

Bitcoin and Ethereum have faced issues such as network congestion, slower transfers, and higher fees during periods of heavy usage.

By contrast, XRP has strengths in transfer speed, cost, and settlement efficiency.

The international remittance market remains slow and expensive.

Bank settlement networks, correspondent banking, intermediary fees, and time delays all remain structural frictions.

Ripple’s strategy focuses on addressing these issues.

If stablecoins grow as a dollar-based payment rail, XRP may play a separate role as a bridge asset and remittance infrastructure layer.

In cross-border payments, foreign currency transfers, and real-time settlement, XRP’s utility may continue to stand out.

9. Illegal Transfers and Dollarization Risks

Another practical issue with stablecoins is cross-border transfers.

In Korea, for example, foreign workers are increasingly using stablecoins to send money to their home countries.

Bank-based remittances require identity verification, fees, time, and regulatory procedures.

Stablecoins, by contrast, can move quickly with only a wallet address.

This gives them clear advantages as a lawful and efficient remittance tool.

At the same time, they can be used to facilitate illegal transfers, tax evasion, money laundering, and circumvention of foreign exchange controls.

In countries with severe inflation, dollar stablecoins may become a de facto everyday currency.

In such cases, central banks can lose control over monetary policy.

This creates a form of currency displacement in which local money is gradually replaced by stablecoins.

10. The Most Important Point Rarely Emphasized by Other Media

The most important point in this issue is that stablecoins create a new form of money.

Most coverage focuses on Trump, Bitcoin, Ripple, Circle stock performance, and crypto regulation.

But at a deeper level, stablecoins are a structure in which private actors issue dollar-like money.

As this structure grows, credit in the economy can expand rapidly.

For the first two to three years, liquidity may improve, payments may become easier, Treasury demand may rise, and the economy may appear stronger.

Over time, however, tax leakage, accounting confusion, issuer failure risk, private money control issues, and financial bubbles may emerge together.

For the U.S. government, the short-term appeal is significant.

It can increase demand for Treasuries, preserve the dollar system, and expand fiscal room ahead of elections.

But in the long run, the more important question is how much control the state can maintain over money and taxation.

In other words, the real issue in the stablecoin race is not token price, but the redistribution of monetary power between the state and the private sector.

11. Key Factors to Watch

Whether Circle’s USDC can meaningfully close the gap with Tether’s USDT.
How the U.S. Congress ultimately shapes the Genius Act and the Clarity Act.
The extent to which U.S. Treasuries are required as reserve assets for stablecoins.
Whether consumer protection measures are established in the event of stablecoin issuer failure.
Whether accounting and tax treatment rules become clearer.
How much adoption XRP gains among financial institutions in cross-border settlement.
How dollar stablecoins are used as a diplomatic tool in the U.S.-China currency competition.

12. Investor Takeaway

This trend is not simply a crypto rally; it is closer to a restructuring of the financial system.

As stablecoins grow, the most direct beneficiaries are likely to be issuers such as Circle, the short-term U.S. Treasury market, and dollar-based payment infrastructure.

It is not reasonable to assume that every altcoin will benefit in the same way.

XRP should be viewed more through the lens of international remittance and payment infrastructure than short-term price performance.

Ripple’s network and technical strengths may still create a distinct role in the stablecoin era.

However, crypto markets remain highly sensitive to regulation, liquidity, and political developments, making blanket optimism risky.

The key question is whether stablecoin legalization represents a victory for crypto as a whole or an expansion of the dollar system.

< Summary >

Trump’s push for stablecoins is primarily driven by the need to create demand for U.S. Treasuries and defend dollar dominance.

Stablecoins are privately issued dollar-like money, which can increase liquidity and support the economy in the short term.

However, the long-term risks include tax evasion, accounting confusion, issuer failure, and the absence of consumer protection.

Circle’s USDC is well aligned with the U.S. regulatory framework and may gain influence over time.

By contrast, it is not appropriate to assume that stablecoin growth will automatically benefit the broader crypto market.

XRP may regain relevance in international remittance and payment networks, but it should be viewed from a functional perspective rather than as a direct purchase recommendation.

Ultimately, the stablecoin competition is not about token prices; it is about a structural shift in U.S. fiscal policy, dollar dominance, crypto regulation, and the global financial order.

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*Source: [ 경제 읽어주는 남자(김광석TV) ]

– 트럼프가 스테이블코인에 집착하는 진짜 이유…서클과 XRP가 뜨는 구조| 경읽남과 토론합시다 | 유신익 박사님 [2편]

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