According to @KobeissiLetter, President Trump said U.S. companies should no longer report earnings every quarter, subject to SEC approval. Source: The Kobeissi Letter tweet, Sep 15, 2025. Under existing law, SEC Exchange Act Rules 13a-13 and 15d-13 require most registrants with publicly traded securities to file Form 10-Q each quarter. Source: U.S. Securities and Exchange Commission, Exchange Act Rules 13a-13 and 15d-13. Any change would require SEC rulemaking under the Administrative Procedure Act with a proposed rule, public comment, and a final rule published in the Federal Register before taking effect. Source: SEC Rulemaking Process; 5 U.S.C. §553; Federal Register. The SEC previously solicited public input on quarterly reporting and earnings guidance in 2018 following a presidential request, indicating precedent for review but not an automatic policy change. Source: SEC Chairman Jay Clayton, Statement on Quarterly Reporting, Aug 2018. Until the SEC approves and adopts a final rule, U.S. earnings calendars remain on the current quarterly 10-Q cadence. Source: SEC Exchange Act Rules 13a-13 and 15d-13. For trading, note that any eventual shift would affect reporting cadence for crypto-linked equities such as Coinbase (COIN), MicroStrategy (MSTR), Riot Platforms (RIOT), and Marathon Digital (MARA), while cryptoassets like BTC and ETH are not SEC-reporting issuers. Source: SEC Forms 10-Q and 20-F/6-K instructions; SEC definition of reporting company. Monitor the SEC’s docket and the Federal Register for any proposing release to calibrate event-driven strategies and implied volatility positioning. Source: SEC Rulemaking Agenda; Federal Register Notices.