A Russian presidential advisor is convinced that the US is planning to exploit cryptocurrencies and gold to erase large portions of the country’s $35 trillion national debt.
Anton Kobyakov, senior advisor to President Vladimir Putin, made the accusations during the Eastern Economic Forum in Vladivostok – an event aimed at attracting foreign investment to Russia’s Far East region.
Kobyakov directed sharp criticism at what he describes as Washington’s attempts to manipulate global financial markets.
— The US is now trying to rewrite the rules of the gold and cryptocurrency markets. Remember the size of their debt, 35 trillion dollars. These two sectors are essentially alternatives to the traditional global currency system, Kobyakov said in his address.
— Washington’s actions in this area clearly highlight one of its main goals to urgently address the declining trust in the dollar, he continued.
Putin’s advisor Kobyakov: The U.S. has devised a crypto scheme to erase its massive debt at the world’s expense.
“The U.S. is now trying to rewrite the rules of the gold and cryptocurrency markets. Remember the size of their debt—35 trillion dollars. These two sectors (crypto… pic.twitter.com/R4RDeYtaGg
— Russia Direct (@RussiaDirect_) September 8, 2025
The US national debt has now surpassed $35 trillion – the largest in the world. The sum consists of the federal government’s total debt to various creditors: foreign governments, institutional investors, and American citizens holding government bonds.
The debt has accumulated over several decades through budget deficits, extensive stimulus packages, high military spending, and costs for social programs such as Social Security and Medicare.
Converting national debt to “stablecoins”?
Kobyakov suggests that the US plan involves converting parts of the national debt to so-called stablecoins – cryptocurrencies pegged to traditional currencies. Through this, the debt could in practice be devalued, which he describes as “starting over from scratch”.
The Russian advisor warns that such a strategy could have serious consequences for global economic stability.
The statements come amid an intense international debate about the future role of digital currencies in the global financial system. How the US will approach cryptocurrencies – and what it means for the dollar’s role as the world’s reserve currency – is being closely watched by governments and central banks around the world.