According to CoinMeta, in a report on September 23, the International Financial Association pointed out that global debt has reached $365 trillion, a record high, with an increase of $10 trillion in just half a year. Among this, debt in emerging markets increased by $6.5 trillion to $110 trillion, with China making the largest contribution. The San Francisco Federal Reserve mentioned in a report on September 28 that the share of foreign investors holding U.S. bonds has dropped from over 50% at the end of the 2000s to about 30% at the beginning of 2026. Since 2023, stablecoin issuers have been increasing their holdings of short-term U.S. bonds faster than Japan, and it is estimated that by 2030, the demand for stablecoins in relation to short-term U.S. bonds will reach about $400 billion. (Source: cryptopolitan)