The 10-year Treasury yield is a crucial part of the financial world, influencing various markets globally. The interest rate the US government pays to borrow money for a decade is closely monitored for its impact on stocks, currencies, and emerging economies. When Treasury yields rise, capital tends to flow out of riskier assets like stocks and cryptocurrencies into safer options like US bonds. This movement affects borrowing costs, currency strength, inflation expectations, and even emerging market stability. In the crypto space, rising Treasury yields can reduce the appeal of riskier crypto yields as investors seek the stability of Treasurys. This competition for capital may lead to lower participation in crypto lending platforms, affecting overall market activity. Stablecoins, such as USDC, are also influenced by the 10-year yield as they often hold US Treasurys in their reserves. Higher Treasury yields mean stablecoin reserves earn more income, potentially impacting stablecoin yields and market sentiment. The debate over regulatory clarity for stablecoins to share yields is ongoing and could enhance adoption. Tokenized Treasurys have emerged as a way for crypto investors to earn yields comparable to traditional bonds, mitigating the impact of rising Treasury yields on crypto markets. This trend reflects the integration of real-world assets into crypto markets, reshaping risk management practices and attracting more conservative capital.