Zhu Su, co-founder of bankrupt crypto hedge fund Three Arrows Capital and founder of OPNX, said a U.S. debt crisis could accelerate corporate bond issuance on blockchain networks while weakening demand for zero-yield stablecoins. In a recent post on X, he argued that investors would have less reason to hold dollar-pegged tokens yielding 0% if the dollar were rapidly losing value, and might instead prefer assets such as Apple corporate bonds offering around 6%. Zhu said companies could issue bonds on-chain to raise funds more cheaply from dollar-holding investors. The thesis reflects the growing overlap between traditional finance and decentralized finance, though adoption of tokenized debt remains constrained by regulation, legal frameworks and market infrastructure. Stablecoins would likely remain important for crypto trading and settlement, but their role as a store of value or temporary home for capital could diminish if investors favor yield-bearing tokenized assets.