The United States is sitting atop a fiscal precipice. With the total U.S. debt surpassing $37.43 trillion as of September 2025, the nation faces a historic reality. Nearly one-quarter of every tax dollar it collects is consumed by servicing the interest payments on its debt burden.

The relentless march of U.S. debt

According to monthly updates from both the U.S. Treasury and Joint Economic Committee, the national debt has soared to $37.43 trillion. This marks an increase of $2.09 trillion in just the past year.

The interest payments alone for FY2025 exceed $478 billion year-to-date, up 17% from last year, according to CNBC.

This expense is projected to account for about 23 cents of every dollar collected by the IRS in revenue. This is a staggering proportion that has risen sharply as global interest rates normalize following years of quantitative easing.

Tariffs: big numbers, small impact

Recent years have seen the U.S. government rack up record-breaking tariff revenues, especially after a suite of new import duties imposed under the Trump administration.

These tariffs are expected to bolster Treasury coffers and could reduce the national deficit by $4 trillion over a decade.

Yet even such windfalls barely dent the mountain of national U.S. debt, with rising interest costs outpacing tariff collection gains. The IMF cautions that “the scale of the increase in tariff revenue is highly uncertain,” while Eliant Capital posted:

“Despite tariff revenues, the deficit for July was $291B with the U.S. spending $630B and collecting $338B meaning 46¢ was borrowed for every $1 spent.”

Nothing stops this train

Macro analyst Lyn Alden has popularized the “nothing stops this train” thesis, a phrase borrowed from pop culture but now synonymous with the U.S. debt dilemma.

Alden’s analysis argues that persistent deficits and relentless spending make for an era of fiscal dominance and that substantive fiscal reform is politically impossible. In her view, the relentless accrual of debt is structurally built into the system, and nothing but a paradigm shift (such as hard money) can break the cycle. Alden told Slate Sundays:

“Just structurally, it’s [U.S. debt] growing above target almost without any way to stop it.”

According to the Peterson Foundation, interest payments are now the third-largest spending category for the federal government. They surpass nearly every other program except Social Security and Medicare.

As a share of revenues, federal interest payments will rise to 18.4 percent by year’s end, a level not seen since the early 1990s.

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As interest payments consume ever-larger shares of federal revenue and traditional remedies like tariffs and spending cuts prove insufficient, the conversation around “hard money” intensifies.

Bitcoin and other cryptos are increasingly viewed as store-of-value alternatives in an era of persistent monetary expansion.

As Alden’s thesis warns, nothing stops this train, and this realization is fueling renewed attention to hard money solutions like Bitcoin and gold.

Investors seek alternatives like Bitcoin and gold

Both gold and Bitcoin have seen strong demand as alternative stores of value amid fiscal concerns and inflationary pressure.

As of mid-September 2025, gold had reached an all-time high, trading at over $3,600 per ounce, up more than 41% year-over-year.

Some analysts expect gold’s rally to continue, projecting prices toward $3,800 by the end of the year as global liquidity concerns drive investors into safe havens.

Bitcoin, dubbed by many as “digital gold,” is trading around $115,000–$118,000 after rebounding from its September lows near $108,000.

While Bitcoin’s price action has been volatile, many analysts, including Lyn Alden, expect to see it to hit at least $150,000 by the end of this cycle.

As fiscal pressures mount, these alternatives are increasingly seen as key safeguards in diversified portfolios, in a time when U.S. debt is spinning out of control.

XRP goes big in New York

The top U.S. exchange, Gemini, is making the most of its XRP product with a new billboard in the heart of the Big Apple.

• “Spend Dollars, Earn XRP.” That is the message behind the exchange’s massive new billboard in the USA’s biggest city.

Founded by the Winklevoss brothers, the U.S. cryptocurrency exchange has really upped its advertising game for its new XRP card, launched earlier this week. As U.Today reported, this helped Gemini briefly overtake its biggest competitor, Coinbase, on Apple’s App Store.

• Success is questionable. Gemini cards received a mixed response from the XRP community.

Some XRP enthusiasts criticized Gemini’s solution for not really bringing anything new to the table. Despite the negativity, a bunch of Ripple executives and CEO Brad Garlinghouse in particular were not against showing off their XRP cards, which were launched in partnership with the enterprise blockchain company.

Ignoring the backlash from the community, the latest ad campaign shows that Gemini is serious about staying competitive in the U.S. crypto exchange market and sees XRP as a valuable asset in its efforts to compete with Coinbase, Kraken and Binance U.S.

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Star investor Ray Dalio reveals why crypto is real alternative to dollar

The hedge fund veteran says the clock is running out on what he calls the “big debt cycle.” Interestingly, cryptocurrencies — Bitcoin in particular — are at the center of attention, just as Satoshi Nakamoto designed it to be in 2008.

The star investor points to crossroads. If banks step back, it will be the natural market forces that push interest rates higher. That could cool inflation. But it would push households and companies into default as debt would become harder to carry.

The flip side is printing more money through quantitative easing, which might keep the system alive but chips away at trust in fiat, and Dalio warns of a loop where rising debt forces even more money creation, eating into the dollar’s credibility as a safe store of wealth.

He still prefers gold but is also open to crypto, recently saying up to 15% of a portfolio could go into Bitcoin or gold for the best risk-return mix. Some may see it as a far cry from his earlier stance, but the sign that hard-capped assets like BTC are moving up the ladder in Dalio’s playbook is evident.

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Dogecoin rockets 617% in liquidation imbalance as DOGE bulls take $7 million hit

Dogecoin, the “meme coin king,” has started September with $8.11 million in liquidations, hitting bulls the hardest as the DOGE price plunges back to 21 cents.

• What happened? A whopping $8.11 million in liquidations were accounted for by Dogecoin in the last 24 hours, with $6.98 million coming from longs, while shorts lost just $1.13 million — a stunning 617% liquidation imbalance.

According to CoinGlass, this DOGE wipeout was part of a wider $371 million flush-out across the entire crypto market. It was the long positions that suffered the most, showing how fragile all the optimism was. In an evident display of how risky leverage can be in historically choppy September conditions, bulls took the biggest hit.

As market analysts point out, the $0.208 zone has been tested five times and is now seen as a critical support level for the coin. On the upside, $0.225 — a price that lines up with the 50-day moving average — stands as the first major resistance. If Dogecoin breaks above that, a stronger recovery might be in the cards. But there’s a chance that if it keeps being rejected, there could be more selling pressure.

• September promises to be busy. Usually, this month is one of the weakest for crypto, but will 2025 be any different for Dogecoin?

There are quite a few checkpoints that might have the answers you are looking for. The first thing to watch is the Federal Reserve’s policy meeting on Sept. 16-17, which is likely to have a big impact on crypto prices.

With the big picture still looking totally uncertain, it seems like Dogecoin’s next big move might have more to do with how global markets react to the Fed’s message than how much retail investors are feeling it.

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August 21, 2025

Brazil is moving toward creating a $19 billion Bitcoin strategic reserve termed RESBit, following a public hearing held on August 20. The session, led by the Chamber of Deputies’ Economic Development Commission in Brasília, brought together lawmakers, economists, and digital asset experts to discuss Bill 4501/24, which proposes using Bitcoin to modernize Brazil’s treasury management and strengthen its position in the global digital economy.

If approved, Brazil would join the ranks of El Salvador, the U.S., China, the EU, and Dubai in exploring government-backed Bitcoin holdings, signaling a major step in adopting digital assets as part of national economic planning.

$19B Bitcoin Reserve as Treasury Hedge Against Dollar As RESBit Faces Multi-Committee Scrutiny

The initiative, authored by Deputy Eros Biondini (PL-MG) and brought forward for debate by Deputy Luiz Philippe de Orleans e Bragança (PL), envisions a Bitcoin reserve worth $18.6 to $19 billion.

The plan frames Bitcoin as a “digital commodity” comparable to gold, with the goal of diversifying Brazil’s financial reserves, hedging against currency volatility, and insulating the economy from geopolitical shocks.

Under the proposal, the Central Bank of Brazil and the Ministry of Finance would oversee custody and management of the assets, publishing biannual reports on performance, risk exposure, and strategic impact. Supporters argue this transparency could strengthen trust in the initiative and anchor it within broader fiscal stability measures.

Lawmakers pointed to international examples, including El Salvador’s adoption of Bitcoin as legal tender and pilot reserve initiatives in the U.S. and Asia, to frame RESBit as part of a global push to integrate cryptocurrencies into sovereign balance sheets.

Proponents described Bitcoin as a safeguard against monetary inflation and dollar hegemony, suggesting that the digital reserve could reinforce Brazil’s long-term financial sovereignty.

Industry experts invited to the hearing, including Diego Kolling of Méliuz and Julia Rosim of ABcripto and Bitso, acknowledged Bitcoin’s scarcity and decentralization as potential long-term benefits but cautioned lawmakers on its well-known volatility and security risks.

They stressed that custody frameworks, liquidity management, and cybersecurity protections would be crucial to prevent fiscal exposure.

Notably, the bill faces an extensive multi-committee review before reaching the full Chamber for a vote.

It must clear four powerful bodies — the Economic Development Commission, the Science, Technology, and Innovation Committee, the Finance and Taxation Committee, and the Constitution, Justice, and Citizenship Committee — before advancing to the Senate. Each stage provides opportunities for technical adjustments and political negotiation.

Critics at the session warned of broader fiscal implications, arguing that diverting nearly $19 billion into Bitcoin could restrict funding for infrastructure and social programs while exposing public finances to sudden swings in crypto markets.

Others flagged transparency and accountability as potential weak points, noting the need for robust reporting and oversight if the reserve moves forward.

Latin America’s Bitcoin Momentum: Brazil to Join the Sovereign Reserve Movement

Brazil’s proposed RESBit initiative positions the country at the forefront of Latin America’s crypto drive, joining a growing list of nations eyeing strategic Bitcoin reserves. Notably, Brazil already leads the region in both trading volume and adoption, ranking 10th worldwide in Chainalysis’ 2024 Geography of Crypto report.

Brazilian tax authority data revealed nearly $76 billion in crypto transactions last year, indicating the scale of integration across its economy.

Lawmakers described RESBit as a crucial step to harness this momentum, with the Central Bank and Finance Ministry tasked with biannual performance and risk reports to ensure oversight and alignment with financial policy.

Beyond Brazil, several other nations have already moved to integrate Bitcoin at the sovereign level. El Salvador remains the flagship case of sovereign Bitcoin adoption, making it legal tender in 2021. Retail use has since plunged from 25.7% in 2021 to just 8.1% in 2024, but the government has continued to buy the dip.

At the time of writing, its holdings stand at 6,275 BTC, worth around $710 million, giving it sizable unrealized gains and reaffirming its role as a crypto pioneer.

Argentina and Venezuela have also turned to Bitcoin and stablecoins to offset inflation and bypass dollar shortages, signaling a broader regional tilt.

In the U.S., Bitcoin has entered state coffers through criminal seizures, making the country the largest known holder with nearly 198,000 BTC as of July 2025. China follows closely with about 194,000 BTC, most of it tied to the PlusToken Ponzi scheme but reportedly sold.

While neither has adopted Bitcoin as legal tender, their large holdings show a shift in how major economies view the asset: less as speculation, more as a strategic reserve.

The Crypto ETF is seeing net inflows of over $1.1 billion as Ethereum sets a daily record. US Crypto ETFS combined ETH ETH and net inflows beyond BTC funds to record one of its strongest sessions, with Ethereum being a clear winner. Ether ETFS recorded more than $1 billion on its single trading day on August 11, 2025.

In particular, the incredible crypto ETF net inflow was driven primarily by BlackRock and Fidelity flagship funds. BlackRock’s Ishares Ethereum Trust (ETHA) was critically led with a net inflow of around $640 million, while Fidelity’s Feth continued at around $276-277 million.

“The Corporate Treasury has obtained ETH at a rate twice as much as BTC,” said Geoff Kendrick of Standard Chartered.

$ eth ETF inflow + $1,018,800,000 yesterday.

It is a new record of the Ethereum influx. pic.twitter.com/p9uam7gxvu

– Ted (@tedpillows) August 12, 2025

Explore: 10 Best AI Crypto Coins to Invest in 2025

The Ethereum Surge continues to be strong for weeks

24 hours7d30D1Yeverytime

The surge in ETH has followed a strong momentum for weeks, with ETH funds approaching or exceeding a positive trend in multi-week winning streak. Interestingly, market analysts point to the maturation of ETH’s investment cases as a “core” digital asset, along with the diversified portfolio of Bitcoin.

July 3, 2025, Ethereum Tuning 10. Creator Vitak Butarin reposted a tweet from Bitcoin security researcher Justin Drake. Lean Ethereum It will be revealed as a vision and personal mission over the next decade. We stand at the dawn of a new era. Millions of TP. Quantum enemy. How does Ethereum marry uncompromising security, decentralization and extreme performance? ”

Yesterday, Ethereum turned 10. Today, Lean Ethereum is revealed as a vision and personal mission for the next decade.

We stand at the dawn of a new era. Millions of TP. Quantum enemy. How does Ethereum marry uncompromising security and extreme performance…

– Justin Drake (@drakefjustin) July 31, 2025

Launched after Bitcoin, the Ethereum Spot ETF has grown its position towards target weights as it is becoming more reliable. Institutional funds flooded the Ethereum ETF with $1.17 billion in June, exceeding $1.5 billion so far this year, projecting $10 billion by the end of 2025.

Exploration: Agency could hold 10% of ETH: Analysts hoping to blow up 4K this week

Institutions may hold 10% of ETH

Kendrick predicts that the agency will be able to manage 10% of Ethereum’s total supply, potentially exceeding $45 billion by the end of 2025.

99bitcoins analysts credit yields and definition integration as the main reasons.

Ethereum is back on top. It will not become Web3 “World Computer.” The NFT is still dead, but what we see is that the corner office is beginning to treat it like gold.

The ETH ETF, which was 3.2 billion hits in July alone, is a stampede that adds $150 billion to its market value of ETH▼-0.75%.

Another major tailwind is that the SEC has finally approved the creation/repayment of the cryptographic ETF. This means that instead of using cash, institutions can now exchange ETH or BTC directly for ETF shares. “This is a new day at the SEC. These approvals will make Crypto ETP costly and efficient,” said SEC Chairman Paul Atkins.

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Ethereum (ETH) is back in the spotlight as bullish momentum pushes the world’s second-largest cryptocurrency toward new yearly highs. But while retail investors cheer the price recovery above $3,400, Ethereum (ETH) whales are taking a different approach: they’re diversifying into early-stage tokens with exponential upside. One name dominates their radar – Pepe Dollar (PEPD), the crypto presale to watch in 2025.

Pepe Dollar (PEPD) Catches Whale Attention amid Ethereum (ETH) Surge

Ethereum (ETH) has benefited from strong ETF inflows, growing institutional interest, and macro tailwinds. With some analysts predicting a rally toward $4,800 or higher by the end of 2025, ETH is once again being positioned as the backbone of the next bull run. But despite its strength, Ethereum (ETH) is a $400 billion asset – meaning its upside is limited compared to smaller tokens.

That’s why Ethereum (ETH) whales are betting big on Pepe Dollar (PEPD), a meme-powered Layer-2 presale token offering deflationary tokenomics and real utility in the digital finance and entertainment space. At under $0.005 per token in its current presale stage, Pepe Dollar (PEPD) presents the kind of asymmetric opportunity ETH whales used to enjoy years ago – high upside, minimal early valuation, and network-driven virality.

Why Ethereum (ETH) Whales Are Targeting Early PEPD Gains

Ethereum (ETH) whales know how cycles work. After ETH gains, capital typically rotates into more speculative, high-beta assets. But in 2025, instead of chasing random meme coins, whales are pre-positioning into presales like Pepe Dollar (PEPD) that blend community appeal with actual use cases. Unlike traditional meme tokens, Pepe Dollar (PEPD) is being built as part of a broader MemeFi ecosystem, where tokens serve as payment tools, gaming assets, and staking instruments.

Pepe Dollar (PEPD)’s early-stage pricing and capped supply create an environment for exponential returns – something Ethereum (ETH) simply can’t offer in its current cycle. With the launch price of Pepe Dollar (PEPD) set nearly 7x higher than its current presale level, Ethereum (ETH) whales see a direct, short-term opportunity to multiply their holdings – without waiting for broader market confirmation.

PEPD Momentum Aligns with Ethereum’s (ETH) Macro Strength

Pepe Dollar (PEPD) isn’t just riding the coattails of Ethereum (ETH) – it’s also gaining independent momentum as investors look for alternatives that still connect to the ETH ecosystem. Since Pepe Dollar (PEPD)’s infrastructure benefits from Ethereum’s dominance in DeFi, security, and liquidity, whales consider it a safe satellite play. They can remain within Ethereum’s orbit while capturing early presale upside that ETH can no longer provide.

As Ethereum (ETH) continues attracting large institutions and ETF capital, its blockchain becomes an even stronger launchpad for tokens like Pepe Dollar (PEPD). And while ETH is moving in 10–15% waves, Pepe Dollar (PEPD) has the potential for 500%+ moves before it even hits a centralized exchange.

Ethereum (ETH) Leads the Rally, But PEPD Leads the ROI

Ethereum (ETH) has firmly reestablished itself as the market’s Layer-1 king. But in terms of ROI potential, it’s Pepe Dollar (PEPD) that’s stealing the spotlight. The token has already passed the halfway point in its first presale stage, with thousands of wallets participating – including large Ethereum (ETH) holders looking to repeat their early ETH success story.

As Pepe Dollar (PEPD’s) deflationary model and MemeFi roadmap continue gaining traction, its status as the strongest crypto presale of the year is becoming more than just marketing – it’s a reflection of real capital rotation.

Conclusion

Ethereum (ETH) may lead the next wave of crypto adoption, but for whales looking to amplify returns, Pepe Dollar (PEPD) offers the rare mix of timing, tokenomics, and trend alignment. While ETH charts a path to all-time highs, the smart money is already securing early entries into PEPD – the presale token poised to turn Ethereum (ETH) gains into generational wealth.

Banking titan Goldman Sachs believes the US dollar’s poor performance over the last few months is just the beginning of a downtrend that will likely last for years.

In a new podcast, Goldman Sachs chief economist and head of global investment research Jan Hatzius calls the US dollar the “dog that didn’t bark.”

Hatzius says the US economy has stabilized since April, when the stock market plunged amid Trump’s trade war. However, he points out that the dollar has continued to weaken, depreciating even as the economy rebounds.

The economist says the dollar’s bearish price action suggests it’s being driven by long-term structural factors rather than the near-term economic outlook.

“The dollar is still very highly valued on a broad trade-weighted basis, and that historically sets up for depreciation in the coming years. 

The US still runs a very large current account deficit that needs to be financed by equal-sized capital inflows.

Then there are some of these more tail risk concerns around things like Fed independence that probably also have an impact on how foreign investors perceive investments in the US…

This is not about a fire sale. It’s about making it a little bit more difficult to obtain the capital inflows that are needed to cover the current account deficit.”

In April of this year, Hatzius said that the US had a current account deficit of $1.1 trillion, which needed to be financed by foreign investments in US assets such as Treasuries and equities.

The current account deficit exists because the US spends more than it earns from the global economy. By consuming more than it produces, the country relies on foreign investment to bridge the gap. But when foreign funding slows, pressure builds on the dollar as capital flows outward, increasing the global supply of USD and contributing to its devaluation.

At time of writing, the US dollar index (DXY), which tracks the performance of the dollar against a basket of major currencies, is down about 10% year-to-date.

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Companies and non-sovereign issuers in the Asia-Pacific region have been hawking bonds at a record rate as investors look to move away from US dollar assets, according to a new Bloomberg report.

Non-sovereign issuers are non-federal bond issuers like local and regional governments and public agencies.

Bloomberg reports that Asia-Pacific companies and non-sovereign issuers have sold $1.5 trillion in local-currency bonds year-to-date, a record in that time frame. The sales represent a 6% increase.

Daniel Tan, a portfolio manager for global emerging markets at Grasshopper Asset Management, tells Bloomberg the number of bond buyers has surged in the second quarter of the year. 

“We are definitely seeing more buyers of local-currency Asian bonds than in pre-April. There are large inflows from pension and sovereign wealth funds looking to diversify away from US dollar assets.”

US President Donald Trump kicked off his wave of tariffs in April, spurring macroeconomic uncertainty.

Angus Hui, the deputy chief investment officer at the Singapore-based investment firm Fullerton Fund Management, tells Bloomberg that “diversification into broader Asian local currency markets is likely to accelerate.”

The Bloomberg Asia-Pacific Aggregate index, a multi-currency benchmark based on Asia-Pacific investment-grade bonds, has beaten the US-based bond metric, gaining 3.9% year-to-date compared to 3.5%, respectively.

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The best-selling personal finance author Robert Kiyosaki is warning of a massive market crash on the horizon.

Kiyosaki tells his 2.8 million followers on the social media platform X that the “biggest crash in history” is coming soon.

The author of the personal finance bestseller Rich Dad Poor Dad says the cause of the market crash is likely to be the high levels of debt the US has incurred so far.

According to Kiyosaki, the US is the “biggest debtor nation in history” due to the fiscal policies of the Federal Reserve.

“Q: What does the Fed do when they f**k up?

A: 1987 Market Crash? PRINT fake dollars

1998 [Long-Term Capital Management] LTCM collapse? PRINT fake dollars

2019 Repo Market seizure? PRINT dollars

COVID-19 Pandemic? PRINT fake dollars

SILICON VALLEY BANK crash PRINT dollars

It’s not a new crisis… it’s the same crisis getting bigger.”

The Rich Dad Poor Dad author says the solution to the approaching crisis is for people to “stop saving fake” US dollars and put their money in hard assets.

“Start saving real gold, silver, Bitcoin.

Protect your wealth.”

Earlier this week, the best-selling author said an asset bubble was on the cusp of bursting. According to Kiyosaki, the bursting of such a bubble would present him with an attractive entry opportunity for hard assets.

“When bubbles burst, odds are gold, silver, and Bitcoin will burst too.

Good news.

If prices of gold, silver, and Bitcoin crash…. I will be buying.”

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On July 15, 2025, the Bank of Japan (BOJ) quietly announced that it would begin supplying U.S. dollar funds against pooled collateral, starting on July 17, a move that might seem like standard liquidity management.

However, according to macro analyst EndGame Macro, this technical maneuver may signal the beginning of a far deeper shift, hinting at growing stress inside the global dollar funding ecosystem and the cumulative strain of Federal Reserve Chair Jerome Powell’s persistent hawkishness.

The carry trade squeeze and systemic pressure

EndGame Macro explains that, for years, Japanese institutions profited from USD carry trades: borrowing cheaply in yen, investing in higher-yielding U.S. assets, and hedging the currency risk. This trade thrived on historically easy dollar liquidity and a strong yen. Now, with the dollar buoyed by high Fed rates and the yen slumping, the economics are breaking down.

As the cost and risk of rolling over these trades escalate, Japanese firms face mounting pressure. The BOJ’s action of supplying domestic USD liquidity is less about the current crisis and more about “preemptive firefighting.”

The maneuver also points to a broader global problem: dollar scarcity. When a major central bank intervenes to provide USD locally, it’s a clear message that private markets are slipping in their capacity to allocate dollars efficiently and cost-effectively. We’ve seen the early signs before, he states, most notably in 2008, 2011, 2019, and 2020, which led to repo market ruptures and emergency Fed interventions.

Arthur Hayes, former CEO of BitMEX, commented on the implications of these central bank machinations, pointing out that such moves bolster global liquidity:

“This is huge… The BOJ is about to ramp up the fiat liquidity gusher and propel $BTC much higher.”

The BOJ rate hike and crypto assets

CryptoSlate recently reported that the BOJ’s recent rate hike to 0.5%, the highest since 2008, sent shockwaves through both Japanese and international markets, including a 22% drop in Metaplanet shares.

The move, prompted by persistent inflation above 3%, has put pressure on previously steady carry trades and heightened volatility across assets. Higher Japanese rates narrow the profitability of borrowing in yen to invest overseas. Unwinding these trades can cause rapid capital flight from risk assets, including cryptocurrencies, increasing global volatility.

When the dollar becomes more expensive and less available globally, riskier assets, like Bitcoin, often face pressure, with price surges or sudden downturns as liquidity dynamics shift. However, if central banks, including the Fed and BOJ, coordinate or expand liquidity (e.g., via swap lines or renewed QE), risk assets like crypto can rebound sharply, as Hayes anticipates.

The BOJ’s recent steps, both in lifting rates and preemptively adding USD liquidity, are more than routine tweaks. As EndGame Macro states:

“Quiet moves like this one are often the first signs.”

The post Bank of Japan’s quiet dollar liquidity move: warning sign or just the beginning? appeared first on CryptoSlate.