The Digital Reconstruction of the U.S. Financial Dominance: Challenge and Governance of Non-Sovereign Digital Assets

• In Event: Reassessment of American Global Economic Leadership in the Age of America First

Brief Overview

The study finds that U.S.-dollar-backed Bitcoin and stablecoin form a self-reinforcing cycle—dollar → stablecoin → Bitcoin → dollar—boosting the dollar index amid digital-fintech evolution and strengthening the U.S. financial dominance.

Author

• Richard Yifan Zhou, Queen Mary University of London