[Galaxy Research: GENIUS Stablecoin Could Drive $1.2 Trillion Credit Expansion] According to a post by Galaxy Research Head Alex Thorn, the report refutes the view that the 'GENIUS Act' would impact U.S. bank deposits and provides quantitative analysis: 60%-70% of stablecoin growth originates from overseas, with foreign deposit inflows being twice the domestic migration volume. For every 1 GENIUS stablecoin minted, it could add $0.32 in net credit to the U.S. economy. By 2030, the baseline scenario for credit expansion is $400 billion, with an optimistic scenario reaching $1.2 trillion. Short-term U.S. Treasury yields could compress by 3-5 basis points, saving taxpayers up to $3 billion annually in borrowing costs. The report states that the interest transfer mechanism is merely a redistribution of profits and does not affect credit capacity.