Trump's Crypto Czar David Sacks Foresees Stablecoin Bill Generating Trillions For US Treasury 'Practically Overnight'

David Sacks, the top crypto and AI advisor to President Donald Trump, has projected that the impending stablecoin legislation could unlock trillions for the U.S. Treasury.

What Happened: Sacks expressed optimism about the bipartisan support for the stablecoin legislation currently being deliberated in the Senate. He suggested that establishing a legal framework for the already $200 billion worth of unregulated stablecoins could lead to a significant demand for U.S. Treasuries, according to a CNBC report on Wednesday.

If we provide the legal clarity and legal framework for this, I think we could create trillions of dollars of demand for our Treasuries practically overnight, very quickly,” stated Sacks.

The GENIUS Act, a bill designed to regulate stablecoins, has passed a crucial procedural vote in the Senate. With support from 15 Democrats, the bill has enough votes to overcome a filibuster. “We have every expectation now that it’s going to pass,” Sacks stated.

Sacks supports the GENIUS Act as a national economic strategy, highlighting stablecoins as a more efficient payment method that strengthens the dollar's online dominance. Meanwhile, the Trump family financially backs World Liberty Financial, which has launched a Treasury- and dollar-backed stablecoin called USD1.

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Why It Matters: Stablecoins, unlike other digital assets such as Bitcoin BTC/USD, have their value tied to real-world assets like the U.S. dollar. In the past year, Stablecoin transactions reached $28 trillion—exceeding the combined volume of Mastercard MA and Visa V.

The push for stablecoin legislation has been gaining momentum for some time. In March 2025, President Trump called for stablecoin legislation at the Blockworks Digital Asset Summit, highlighting the potential of stablecoins to enhance the U.S. financial system and maintain the dollar’s global dominance. This marked his first address at a crypto conference as a sitting president.

U.S. Sen. Bill Hagerty (R-Tenn.) stated that stablecoin issuers could become the largest holders of U.S. Treasuries globally by the end of the decade, citing projections from Citibank. He emphasized the role stablecoins play in transforming the payments landscape while underscoring their backing by short-term U.S. government debt.

Despite the optimism, the bill's passage faces hurdles. A contentious amendment from Sen. Josh Hawley (R-Mo.) could alienate banking supporters and potentially delay final approval.