According to @rovercrc, President Trump said U.S. companies will shift from quarterly to semiannual earnings reports, pending SEC approval, in an X post dated Sep 15, 2025. source: @rovercrc on X, Sep 15, 2025. Any such change would require the SEC to propose and adopt rule amendments via notice-and-comment before taking effect. source: U.S. SEC, Rulemaking Process under the Administrative Procedure Act. If adopted, the number of scheduled earnings releases for affected SEC-reporting companies would fall from four to two per year, reshaping earnings-calendar catalysts that many strategies trade around. source: U.S. SEC guidance on periodic reporting for Forms 10-Q and 10-K; Beaver 1968, Journal of Accounting Research, on earnings announcement information content. Traders should closely monitor implied volatility around the two earnings windows and recalibrate earnings strategies, as announcement periods are associated with elevated volatility and post-announcement drift. source: Beaver 1968; Bernard and Thomas 1989, Journal of Accounting Research, on post-earnings-announcement drift. For crypto, equity risk episodes can transmit to BTC and ETH in the short run, so any re-timing of equity event risk may shift cross-market volatility patterns. source: Corbet et al. 2018, Economics Letters; Ji, Bouri, and Roubaud 2019, Energy Economics.