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The U.S. Securities and Exchange Commission (SEC) is an independent agency of the federal government responsible for regulating the securities markets, protecting investors, and maintaining fair, orderly, and efficient markets. The SEC's main responsibilities in the cryptocurrency sector include overseeing whether crypto assets comply with securities laws, assessing the legality of ICOs (Initial Coin Offerings) and other cryptocurrency products, and enforcing actions against non-compliant behaviors. The SEC's regulatory policies have a significant impact on the compliance and development of the cryptocurrency market.
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Berkshire's first major portfolio adjustment revealed, spending $17 billion in the second quarter to bet on Google

Berkshire Hathaway submitted its 13F holdings report for the second quarter of 2026 to the U.S. SEC. The data shows that in the second quarter after Warren Buffett stepped down, the company's investment portfolio underwent significant adjustments, with a large purchase of Google’s parent company Alphabet, while reducing positions in the financial and consumer sectors.As of June 30, 2026, the total market value of Berkshire's stock holdings rose to $29.9 billion, up from $26.3 billion in the previous quarter. In the second quarter, the company added one new position, increased holdings in seven stocks, reduced holdings in six stocks, and completely sold out of one target, with the top ten holdings accounting for as much as 88.74%.Among them, Alphabet became the biggest highlight. In the second quarter, Berkshire cumulatively increased its holdings of Alphabet Class A and Class C shares by approximately 48.1 million shares, with the new holdings valued at over $17 billion, pushing Google to replace Bank of America as Berkshire's fourth-largest holding. Currently, its top five holdings are Apple, American Express, Coca-Cola, Alphabet, and Bank of America. In addition to Google, Berkshire also slightly increased its holdings in Delta Air Lines, Lennar, and Macy's. The increase in Delta Air Lines has attracted attention, as the market believes this move may reflect the company's optimism about the recovery of air travel demand and improvement in corporate operations.On the reduction side, Berkshire focused on cutting positions in the financial and consumer sectors in the second quarter. Among them, Bank of America saw a reduction of about 30.2 million shares, with the holding ratio decreasing by 5.89%, corresponding to a market value of about $1.72 billion, making it the largest reduction target; First Capital Financial reduced about 4.2 million shares, with the holding ratio decreasing by about 58%; at the same time, it reduced about 11 million shares of Kroger, with the holding size decreasing by about 22%.The market believes that Berkshire ended a streak of 14 consecutive quarters of net stock selling in the second quarter and net bought nearly $20 billion in stocks, indicating that the new leader Greg Abel is pushing the portfolio towards a technology growth direction, marking a shift in asset allocation in the "post-Buffett era."

first_img Galaxy: The probability of the CLARITY Act passing has dropped to 10%, SEC and CFTC accelerate independent actions

Galaxy Research analyst Alex Thorn pointed out that as the likelihood of the CLARITY Act passing in 2026 significantly decreases, the U.S. SEC and CFTC are intensifying independent cryptocurrency regulatory actions. The bill previously gained bipartisan support in the Senate Banking Committee but has stalled due to unresolved ethical rules for officials regarding cryptocurrency, pressure from community banks leading to some Republican positions softening, and disputes over developer protection clauses. The Senate Majority Leader failed to push for a vote before the August recess, and the September session is only about two to three weeks long, leading Galaxy to lower the probability to 10%.On the SEC side, the originally planned "Reg Crypto" exemption (which provides a new path for primary issuance of crypto assets) and "Innovation Exemption" (which allows tokenized securities to trade in DeFi secondary markets) have been postponed multiple times. It is reported that the agency had retreated due to opposition from the traditional securities industry, but may restart due to the bleak outlook of the bill, with text expected to be released in the coming weeks to months. These measures are likely to be time-limited sandboxes that will face litigation and require years to refine. The CFTC is actively advocating for jurisdiction over prediction market contracts, responding to the New York Attorney General's attempt to issue an emergency order to ban Kalshi event contracts nationwide, continuing the tug-of-war over federal and state jurisdiction regarding prediction markets.Thorn believes that while the bill covers a comprehensive framework including registration licensing, compliance monitoring, and consumer protection, it is currently more dominated by political factors. SEC Commissioner Hester Peirce's planned departure in November also adds urgency to the advancement of the rules. The related actions aim to fill the legislative vacuum but may ultimately undergo a lengthy judicial and rule-making process.

Gray Research Director: Ethereum is like a "small country," and the issuance of ETH determines the balance between network security and currency

Zach Pandl, the head of research at Grayscale, posted on the X platform comparing Ethereum to a "small country" and discussed the ETH issuance mechanism. He believes that Ethereum has only one core "government function": to protect property rights and value exchange within the system. Unlike traditional countries that provide public services through taxation, Ethereum primarily funds network security through "seigniorage," which is the issuance of new ETH.In this framework, the stakers responsible for maintaining network security are akin to a group providing public services, as they receive rewards through newly issued ETH. Therefore, Ethereum's staking mechanism and ETH issuance policy essentially constitute the network's fiscal and monetary policy. Zach Pandl pointed out that the Ethereum community needs to decide how much "new currency" should be used to cover network security costs. More security typically means stronger protection of property rights, but at the cost of a higher ETH issuance rate and potential other risks.For example, if network security increasingly relies on a few large staking service providers, there remains room for discussion about whether these providers can maintain the asset rights of all users completely neutrally. Pandl believes that, just as in traditional economies, no one knows the "optimal level" of government spending and currency issuance; the same applies to Ethereum. However, Ethereum has several key security thresholds, including: 1/3: an attacker reaching this ratio may affect finality; 1/2: affects blockchain fork choice; 2/3: can control the finality process. Some community members believe that the design of Ethereum's monetary and fiscal policy should consider the security trade-offs brought by these key ratios, while the current mechanism has not adequately incorporated these factors. However, the above analogy is not entirely accurate, as it does not yet involve other important factors such as the ETH burn mechanism, MEV, governance, etc.

Bit Digital holds over 160,000 ETH, Riot and Nakamoto disclose second quarter financial reports and BTC collateral debt

According to BBX data, yesterday global publicly listed companies in the US disclosed the latest real accounts regarding their holdings in crypto assets, mining costs, and debt collateral structures. The core updates are as follows:Bit Digital ( NASDAQ : $ BTBT ) narrowed losses in Q2, holding over 164,000 ETH: Nasdaq-listed company Bit Digital announced its financial performance for Q2 2026. The company's total revenue for Q2 was $32.1 million (a 15% quarter-over-quarter increase), with a gross profit of $18.6 million (gross margin of 57.9%), and a net loss attributable to shareholders narrowed to $107.2 million. As of June 30, 2026, the company held Ethereum reserves of 164,310.5 ETH, along with approximately $83.6 million in cash and cash equivalents.Riot Platforms ( NASDAQ : $ RIOT ) Q2 revenue of $174.2 million, reserves over 11,000 BTC: US-listed mining company Riot Platforms released its Q2 financial report, with total revenue for the quarter reaching $174.2 million (a 14% year-over-year increase), of which the data center business contributed $23.2 million; Q2 Bitcoin production was 1,587 BTC, with an average mining cash cost of $49,912 per BTC. By the end of Q2, Riot held over $1.2 billion in liquid assets, including 11,380 BTC (of which 5,821 BTC were used as collateral) and $548.9 million in cash.Nakamoto ( NASDAQ : $ NAKA ) sold 600 BTC to repay loans, still holding 4,467 BTC: Bitcoin treasury company Nakamoto announced its Q2 performance, with total revenue of $35.87 million and a net loss of $133 million. During the quarter, the company sold approximately 600 BTC and some derivative positions, generating about $48 million in net proceeds to repay a Bitcoin collateral loan of $45 million USDT. As of the end of June, the company still held 4,467 BTC (with a fair value of approximately $262 million, of which 3,805 BTC have been pledged as debt collateral), with total debt of approximately $165 million.
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