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The rally in US government bonds continues, extending gains that began roughly two weeks ago.

Bo Hines, former Executive Director of the White House Crypto Council and now CEO of USAT — Tether’s first regulated US-based stablecoin, stated that following the adoption of the GENIUS Act, the number of new USAT users is growing rapidly.

China has been actively reducing its holdings of US Treasuries since 2011, marking a long-term structural shift in global reserve allocation.