Putin Advisor Accuses US of Strategic Crypto Manipulation to Address Debt Crisis

By: Eva Baxter

An advisor to Russian President Vladimir Putin, Dmitry Kobyakov, has made striking claims about the United States' strategy to annul its massive national debt, utilizing stablecoins and the broader cryptocurrency market as a mechanism for what he perceives as financial manipulation. Kobyakov presented these accusations at the Eastern Economic Forum, where he alleged that the US is planning to address its $35 trillion national debt by moving debt burdens into the cryptocurrency realm and systematically devaluing them.

Kobyakov aligned this contemporary strategy to historical debt management maneuvers by the United States back in the 1930s and 1970s, suggesting that such measures are designed to benefit America at the financial detriment of other nations. He argued that this cryptocurrency strategy is part of a multistage process where the US could potentially transition a significant portion of its currency debt into crypto instruments like stablecoins before initiating devaluation. This, he claimed, would effectively reset their debt position.

The advisor's remarks coincide with growing global interest in stablecoins, particularly following the enactment of the GENIUS Act in the US, which President Donald Trump signed to establish a regulatory framework for these digital tokens. In his view, the US promotion of digital assets intertwines with strategic financial objectives rather than technological innovation alone.

Kobyakov's commentary comes amid turbulent US-Russia relations and Russian critiques of Western financial models. He emphasized that America’s alleged crypto adoption is a strategic ruse to restructure its debts under the guise of economic progressivism, further warning that global enthusiasm towards digital currency could aid American financial restructuring. The criticism reflects a component of Russian advocacy for alternative global payment systems and challenges to dollar-dominated financial settlement mechanisms, highlighting ongoing international dialogues about the future of digital currencies and monetary systems.