Russian President Vladimir Putin’s adviser, Dmitry Kobyakov, accused the US of orchestrating a crypto strategy to eliminate its $35 trillion national debt through the manipulation of stablecoins.

During his speech at the Eastern Economic Forum on Sept. 6, Kobyakov claimed that Washington seeks to “rewrite the rules of the gold and crypto markets” as alternatives to traditional currency systems while addressing declining dollar confidence.

The debt problem

The adviser drew parallels to historical US debt strategies from the 1930s and 1970s, arguing America plans to solve financial problems “at the world’s expense.”

He stated:

“The US plans to solve its financial problems at the world’s expense—this time by pushing everyone into the ‘crypto cloud’. Over time, once part of the US national debt is placed into stablecoins, Washington will devalue that debt.”

He described a multi-stage process where the US would transfer its currency debt into crypto instruments before implementing devaluation.

Kobyakov characterized this as a deliberate scheme to eliminate sovereign obligations through digital asset manipulation:

“They have a $35 trillion currency debt, they’ll move it into the crypto cloud, devalue it—and start from scratch.”

The accusations come amid increased global interest in stablecoins, propelled by thriving regulation in the US. In July, President Donald Trump signed the GENIUS Act into law, creating a regulatory framework for these dollar-pegged tokens.

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Strategic tool

However, Kobyakov positioned crypto adoption as a strategic tool rather than a technological innovation, suggesting that the US promotion of digital assets serves debt management objectives.

The adviser warned that global crypto enthusiasm enables Washington’s alleged financial restructuring plans.

The Eastern Economic Forum, held annually in Vladivostok, serves as Russia’s primary platform for discussing Asia-Pacific economic cooperation and alternative financial systems.

Kobyakov’s remarks reflect ongoing Russian criticism of US monetary policy and dollar dominance.

The accusations align with Russian narratives challenging Western financial infrastructure following international sanctions. Moscow has promoted alternative payment systems and criticized dollar-based settlement mechanisms since 2014.

Kobyakov’s claims reflect broader tensions over global financial architecture as countries explore central bank digital currencies and alternative monetary systems.

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A leading crypto adviser is sending an urgent message to XRP investors. Jake Claver, who advises the ultra-wealthy, says the time to prepare is before XRP becomes real money. He warns that too many investors wait until after profits arrive, and by then it may be too late to avoid problems. Claver explains that early planning could be the best way to protect XRP investor gains and keep them safe. According to him, waiting until the windfall is already in their wallet leaves them exposed and unprepared.

Get Your Structure In Place Before XRP Profits Arrive

Jake Claver’s first piece of advice in his X post is direct: get your structure in place before profits come in. He says many XRP investors are waiting too long, and that delay can lead to risks that are hard to fix later. As a crypto adviser for the ultra wealthy, Claver has seen how fast success can turn into trouble when investors ignore planning. He makes it clear that action must come before the gains, not after.

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The crypto adviser stresses that XRP investors need to focus on legal, tax, and security planning while they still have time. If these steps are skipped or delayed, investors may face significant burdens when their coins become of real value. Problems can arise quickly, and once they do, they become more complex and more expensive to resolve. 

Claver cautions that establishing a structure is not about fear but being smart. Building the right plan now helps investors enjoy their success later without stress. In his view, the best way to secure digital wealth is to take action early, not when the profits are already sitting in the wallet.

Trusts, LLCs, And Custody Solutions Built For Digital Assets

Jake Claver also points to the tools he thinks work best for building crypto wealth. He says basic templates are not enough for serious investors, and XRP holders need structures made for digital assets if they want their coins to turn into lasting money.

The crypto adviser for the ultra-wealthy recommends using digital asset–specific trusts, LLCs, and custody solutions. These solutions could provide XRP investors with lasting financial security, giving them a strong way to protect their wealth and avoid costly mistakes as their digital holdings gradually turn into real money.

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The tools are not one-size-fits-all but they handle the fast growth and changing rules around digital coins. With the proper setup, XRP investors can protect their profits, pass on wealth to the next generation, and keep it safe from sudden losses.

Claver’s warning is clear, asking XRP investors to act early. By putting these protections in place before profits arrive, they can hold on to the value they have built and avoid risks from waiting too long. 

Featured image from Dall.E, chart from TradingView.com

Tether has hired Bo Hines, a former adviser to President Donald Trump, as its Strategic Advisor for Digital Assets and US Strategy.

The company confirmed on Aug. 19 that Hines will immediately begin working with Tether’s leadership to guide its expansion and regulatory engagement in the United States.

In his new role, Hines will oversee strategy, liaise with regulators, and engage with key industry stakeholders to ensure Tether’s initiatives align with legal and operational standards.

Speaking on his appointment, Hines posited that his new position provides an opportunity to apply lessons from public service to the private sector.

According to him:

“During my time in public service, I witnessed firsthand the transformative potential of stablecoins to modernize payments and increase financial inclusion…[I want] to help deliver an ecosystem of products that will set the standard for stability, compliance, and innovation in the US market – one that will empower American consumers and help revolutionize our nation’s financial system.”

Tether’s US expansion

Hines’ appointment comes as Tether continues its push to strengthen its US presence while navigating an evolving regulatory environment.

The firm said it has already reinvested nearly $5 billion into the US ecosystem as part of its commitment to domestic growth.

Apart from that, Tether’s influence in the US financial system is already substantial, with the company holding approximately $127 billion in US Treasuries to back its USDT tokens.

By comparison, if Tether were a sovereign entity, it would be the 18th-largest holder of US debt. This level of investment extends the Treasury demand beyond traditional buyers while indirectly supporting the US dollar dominance.

The firm has also hinted at plans to launch a new stablecoin tailored to its US users.

So, Hines’ appointment aligns with the stablecoin issuer’s prioritisation of the US market. Paolo Ardoino, Tether CEO, said:

“[Hines] appointment demonstrates our commitment to building a strong US-based presence that spans across multiple sectors, starting with digital assets and expanding to new opportunities, including a deep focus on potential further investments in domestic infrastructure.”

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In a major win for Pakistan’s cryptocurrency market, Changpeng Zhao (CZ), the co-founder and former CEO of Binance, the world’s largest crypto exchange, has been appointed as a strategic adviser to the Pakistan Crypto Council (PCC). 

Binance Co-Founder To Boost Crypto Innovation

The announcement was made by the finance ministry on Monday, following Zhao’s meetings with key PCC members, including Federal Minister for Finance Muhammad Aurangzeb, who chairs the council, and CEO Bilal Bin Saqib. 

According to local media reports, Changpeng Zhao also held discussions with the Prime Minister and Deputy Prime Minister of Pakistan during his visit to Islamabad over the weekend.

The PCC, established by the government just last month, aims to create a regulatory framework for cryptocurrency trading, a move intended to attract international investment. 

Although cryptocurrencies such as Bitcoin (BTC) are not officially regulated in Pakistan, they are not illegal either. Since January 16, 2021, the State Bank of Pakistan has not authorized any entities to conduct transactions involving virtual currencies, coins, or tokens.

“This is a landmark moment for Pakistan; we are sending a clear message to the world: Pakistan is open for innovation,” Senator Muhammad Aurangzeb stated during the announcement. 

The Senator emphasized that with Binance’s former CEO on board, the council aims to accelerate its vision of positioning Pakistan as a regional leader in Web3, digital finance, and blockchain technology.

Zhao’s Vision For Pakistan

As a strategic adviser, Zhao will reportedly provide key guidance on various aspects, including regulation, infrastructure development, education, and the adoption of cryptocurrencies. 

His role will involve close collaboration with both the Pakistani government and the private sector to create a compliant, inclusive, and globally competitive crypto ecosystem.

Zhao highlighted the potential of Pakistan in terms of cryptocurrency growth, stating, “Pakistan is a country of 240 million people, over 60 percent of whom are under the age of 30. The potential here is limitless.”

Despite his recent legal challenges—having stepped down as Binance CEO and reached a $4.3 billion settlement with US authorities over anti-money laundering violations—Zhao remains one of the most influential figures in the crypto industry. 

As of January 2025, Forbes estimates his net worth at approximately $66.6 billion, making him the second-richest Canadian and the 24th richest person in the world.

Zhao’s career in cryptocurrency began in 2013 as part of the team that developed Blockchain.info. He later served as Chief Technology Officer for OKCoin before launching Binance in July 2017. 

Within just eight months, Binance became the world’s largest cryptocurrency exchange by trading volume, a feat accomplished after raising $15 million through an initial coin offering (ICO).

As of now, Binance Coin (BNB), trades at $564, recording an 11% price drop over the past two weeks.  

Featured image from DALL-E, chart from TradingView.com 

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