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As a crypto analyst tracking on-chain data since 2017, I never imagined Satoshi's vision would be fulfilled by dollar-pegged stablecoins. This deep dive explores how Tether's 'oil-for-crypto' strategy and Circle's regulatory gambit turned stablecoins into America's de facto electronic cash system - complete with NYAG settlements, $100B treasuries holdings, and the looming Genius Act. The irony? The most 'trustless' asset created the most centralized payment rails.