According to @KobeissiLetter, Alphabet’s quarterly report lists a specific line item titled European Commission fines totaling 10.5 billion dollars as of September 30, highlighting a material regulatory liability that influences valuation and risk perception in GOOGL trading, source: The Kobeissi Letter on X, Dec 26, 2025. The post characterizes EU enforcement as routine enough to appear as a normal disclosure line, signaling an ongoing regulatory overhang for Big Tech with significant European exposure, source: The Kobeissi Letter on X, Dec 26, 2025. The source provided no direct cryptocurrency market impact or token-specific catalysts, source: The Kobeissi Letter on X, Dec 26, 2025.