To contextualize these two aspects, the U.S. economy comprises roughly 25% of the world's total output, a figure that has remained consistent for over four decades despite the rapid economic expansions in China, Asia, and Eastern Europe. However, in the realm of global finance, the dominance of the U.S. dollar surpasses even that of the U.S. economy.

According to the Bank of International Settlements, the U.S. dollar is utilized in 90% of international payments and settlements, with 40% of global trade transactions invoiced in dollars. Similarly, within the realm of blockchain stablecoins, the U.S. dollar accounts for 99% of all global stablecoin transactions, with leading players such as USDT and USDC being USD-backed and Ethereum-based.

As a result, a significant portion of the world's financial infrastructure falls under the jurisdiction of U.S. regulators due to the predominance of U.S. dollar transactions. While physical cash remains an option, the largest denomination printed by the U.S. Treasury is $100, hardly sufficient for substantial transactions such as purchasing a new aircraft carrier. Therefore, digital payments are increasingly essential for significant funding needs.

This dominance of the U.S. dollar affords the United States significant influence in global markets, particularly in imposing sanctions against individuals and governments. Banks, mindful of the risk of being excluded from the vast majority of global payments, act cautiously.