According to @MilkRoadDaily, regulators are paying closer attention because growth in stablecoin supply is influencing how the U.S. government borrows money (source: @MilkRoadDaily, Aug 26, 2025). The post states that when stablecoin supply rises, more U.S. Treasuries are purchased via stablecoin reserve allocations, which makes U.S. borrowing cheaper by increasing demand for government debt (source: @MilkRoadDaily; report credit referenced to David Duong and Coinbase Research). The full analysis is referenced by @MilkRoadDaily, indicating a data-backed link between stablecoin supply and Treasury demand that is directly relevant for trading and macro-liquidity monitoring (source: @MilkRoadDaily).