The U.S. national debt reached a historic $40 trillion milestone, fueling debate about federal borrowing even as Treasury’s expanded long-term debt buybacks helped cool a bond selloff, providing relief to stock markets. Amidst these fiscal developments, President Trump intensified the administration’s pivot toward digital assets, confirming that the U.S. is considering 'sizable' Bitcoin acquisitions while urging Congress to pass the CLARITY Act to ensure American leadership in the sector. Corporate sentiment remained active, highlighted by S&P Global’s rating upgrade for Micron on strong AI memory demand and Stripe’s strategic acquisition of OpenRouter to bolster its AI marketplace footprint, even as Coty warned of a 'transition year' following revenue fluctuations. The geopolitical landscape saw significant movement, with Ukraine formalizing the appointment of Yevhenii Khmara as defense minister, while the Israel Defense Forces launched criminal probes into conduct during Gaza operations. International tensions escalated as France ordered the expulsion of two Iranian diplomats following an assault on its own personnel in Tehran. Domestic political scrutiny persists, with reports surfacing on potential conflicts of interest among California lawmakers regarding utility wildfire bailouts and controversies surrounding the leadership of the New York City Democratic Socialists of America. Insider activity remained robust, characterized by a high volume of Form 4 filings detailing strategic share movements across sectors, including a massive sale of 72 million shares of Aurora Innovation by Uber Technologies, as well as various tax-related share surrenders at firms like Paylocity and Braze.