AI and Stablecoins Could Redefine Power in the Post-Credential Era

Arthur Hayes, former CEO of BitMEX, has outlined a vision in which artificial intelligence (AI) could displace America’s debt-dependent elite class, reshaping the economic and financial landscape. Hayes argues that AI will render obsolete the traditional markers of elite status—such as expensive degrees and high-paying corporate jobs—by automating many of the tasks currently performed by professionals in these sectors. He emphasizes that the rise of AI, combined with the erosion of U.S. dollar dominance and the proliferation of stablecoins, will challenge the existing power structures built on credentialism and debt accumulation [1].

Hayes’ analysis focuses on the growing influence of stablecoins, particularly those backed by the U.S. dollar. He points to Treasury Secretary Scott Bessent as a key figure in this transformation, describing him as a “Buffalo Bill” figure who is poised to dismantle the Eurodollar system. This offshore financial network, which has operated outside U.S. regulatory control for decades, holds an estimated $10–$13 trillion in assets. Hayes suggests that Bessent plans to redirect these funds into on-chain stablecoins, which would then be used to fund U.S. Treasury debt and give the government greater control over monetary policy [1].

According to Hayes, stablecoins like Tether’s USDT function as “narrow banks,” accepting deposits and investing in short-term Treasury bills. This model allows the Treasury to bypass the Federal Reserve and influence interest rates independently. Hayes notes that stablecoin issuers, in turn, become “price-insensitive buyers” of U.S. government debt, effectively supporting the yield curve and reinforcing the dollar’s role as the world’s reserve currency [1].

The expansion of stablecoins into global markets is another key component of this financial shift. Hayes envisions a future where social media platforms, such as WhatsApp, become financial tools, enabling users in the Global South to send and receive U.S. dollar-backed stablecoins. This move, he argues, would further entrench the dominance of U.S. financial infrastructure while making it increasingly difficult for other nations to resist. Hayes also forecasts that this shift could lead to $34 trillion in capital being funneled through stablecoin ecosystems, providing a vast new funding base for U.S. debt [1].

Hayes also highlights the potential for decentralized finance (DeFi) platforms to benefit from this trend. He points to projects like Ethena, Hyperliquid, Ether.Fi, and Codex as potential beneficiaries of the massive inflow of stablecoins. These platforms offer yield-generating opportunities that could attract users who are no longer reliant on traditional banking systems. Additionally, Hayes predicts that the broader adoption of stablecoins will lead to new financial instruments and services that were previously unfeasible under conventional banking structures [1].

While Hayes’ predictions are ambitious, they align with broader trends in global finance and technology. Other analyses have also noted the U.S. government’s interest in expanding its control over digital currency and the potential for stablecoins to reshape international capital flows. As this transition unfolds, it remains to be seen how regulators, central banks, and market participants will adapt to the shifting dynamics of the global financial system [2].

Source:

[1] Arthur Hayes says AI will render America's debt-fueled elite ... (https://www.cryptopolitan.com/arthur-hayes-ai-elite-class-obsolete/)

[2] Arthur Hayes Predicts Bull Cycle Until 2028: Watch US ... (https://www.mitrade.com/insights/news/live-news/article-3-1065429-20250825)