US national debt reaches $40 trillion for the first time

Total US debt reached $40 trillion for the first time. Per-capita burden: $119,699 per American. Debt has increased by $17 trillion since 2020 and by $30 trillion since 2008. The trajectory signals an unsustainable fiscal path, which can pressure bond markets, raise long-term borrowing costs, and increase macroeconomic risk. Potential impacts on crypto and risk assets: elevated volatility, shifting liquidity conditions, and changing investor preferences for hard-asset or non-sovereign alternatives.