According to @StockMKTNewz, Michael Burry’s Scion Asset Management terminated its SEC investment adviser registration effective November 10, 2025, as reflected in a filing on the SEC website, source SEC filing. US rules generally require investment advisers with more than 100 million dollars in regulatory assets under management to register with the SEC, source SEC. For traders, this confirms Scion no longer appears as an active SEC-registered adviser, a status change highlighted in financial news coverage, source Bloomberg. The SEC filing did not cite any cryptocurrency exposure or direct impact on BTC or ETH, source SEC filing.