According to BlockBeats, on August 8th, Citrini analyst Jukan published an article stating that the market will move in the short term towards a "bearish on storage and bullish on optical interconnects" direction, and some hedge funds have already begun implementing this strategy. The three main reasons are:

South Korean leveraged ETFs have become largely ineffective, and concentrated redemptions by limited partners have created additional selling pressure.

Nvidia is reducing the HBM configuration of Rubin Ultra and instead using optical interconnects to connect multiple racks. Even if the performance of a single rack is not improved, the cluster level can still maintain its advantage. This logic holds true regardless of whether the reduction of HBM is a supply issue or a demand issue.

The market has reached a consensus that storage prices will peak within the next two quarters.

Jukan explicitly stated that he remains bullish on storage in the medium to long term, but slightly bearish in the short term, and currently has no storage positions.

BlockBeats reported on August 8th that crypto market maker GSR released an analysis of crypto treasury management, pointing out a fundamental vulnerability in the current industry treasury structure—nearly 70% of assets in DAO treasuries are held in native tokens, with a very low proportion allocated to stable assets or diversified reserves. This structure exposes projects to a triple whammy during bear markets: falling token prices, reduced protocol activity, and shrinking fee revenue. Since operating costs are denominated in USD, projects are forced to sell more tokens at lower prices to cover fixed expenses, further depressing token prices and accelerating treasury depletion. Project teams almost always seek protection at the wrong time—during bull markets, no one is willing to pay premiums for options; after a market crash, hedging demand surges, but by then implied volatility has already skyrocketed, making protection costs most expensive when demand is highest. "It's like buying insurance when the storm is already overhead."

GSR points out that protecting positions doesn't necessarily require selling tokens; the collar option is the most commonly used structure: a project sells a call option above the current price and uses the premium received to buy a put option below it, offsetting the loss and completing the transaction at zero cost. The token receives a guaranteed floor price within the selected range. This structure transforms a highly volatile asset into a range around which the finance team can build its annual budget, while preserving holdings and operational reserves.

GSR subsequently emphasized that the collar only protects the price range on the day of entry. Projects that successfully navigate multiple cycles all employ tiered treasury management: operational reserves are held in cash or stable assets to cover expenses, long-term holdings maintain investment but with appropriate hedging, and strategic positions remain unused without jeopardizing the organization's survival. The model shows that a treasury entirely held in native tokens will lose years of operational runway during significant drawdowns, while separating reserves and protecting long-term holdings can largely preserve runway, even without relying on any market rebounds.

According to BlockBeats, on August 8th, Berkshire Hathaway A (BRK.AN) released its Q2 2026 financial report, with revenue of $12.983 billion. Net income was $25.667 billion, a significant increase from $12.37 billion in the same period last year. Investment income for 2026 included $10.9 billion in the second quarter. Q2 EPS was $17,868. As of June 30, 2026, insurance float was approximately $177.5 billion.

Cash reserves fell to $365.51 billion in the second quarter, compared to approximately $397.4 billion in the first quarter. The company repurchased approximately $4.5 billion of treasury stock in the second quarter. As of June 30, 66% of the total fair value of its equity investments were concentrated in five companies: American Express, Apple, Bank of America, Alphabet, and Coca-Cola.