According to online reports, BitMEX co-founder Arthur Hayes said that large "too big to fail"(TBTF) banks have two pools of funds and are ready to buy trillions of dollars worth of U.S. Treasury bonds as long as they have the necessary profit potential. The two pools are demand/time deposits and reserves held at the Federal Reserve. The reason why I pay attention to these eight "too big to fail" banks is because their survival and profitability rely on government guarantees for their debts, and the formulation of bank supervision regulations has benefited them more than non-"too big to fail" banks. Therefore, as long as they can make some profits, they will follow the government's instructions. Bessent asked them to buy its inferior bonds and in return, Bessent would provide them with risk-free returns. I think the reason why U.S. Treasury Secretary Bessent is so keen on "stablecoins" is that by issuing stablecoins, TBTF Bank will release up to US$6.8 trillion in purchasing power of treasury bonds. These inactive deposits can then be reused in the unstable fiat financial system, boosting the market.