BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

**May 2nd** Berkshire Hathaway’s cash reserves hit a record $397 billion in the first quarter under CEO Greg Abel. The company’s cash position dipped slightly at year-end 2025 but jumped sharply in Q1 2026 on net stock sales of $8.1 billion. Additionally, Berkshire Hathaway Class A (BRK.A.N) reported: - Q1 2026 revenue: $93.675 billion (up from $89.725 billion year-over-year; topping the market consensus of $89.274 billion) - Net profit: $10.106 billion (up from $4.603 billion YoY; falling just short of the $11.762 billion estimate) - Operating profit: $11.35 billion (nearly 18% YoY gain) As of Q1 2026 end, the fair value of Berkshire’s fixed-income securities stood at $17.669 billion (down from $17.816 billion YoY). Breakdown: - U.S. bonds: $3.88 billion - Foreign bonds: $12.391 billion - Corporate bonds: $1.19 billion ### Notes on American English adaptation: - Uses **Q1** (standard quarterly abbreviation) instead of "first quarter" for brevity. - Replaces

On May 2, AI project SKYAI skyrocketed 1687% on its first day of spot trading on Bitget—following its April 30 debut. Within three days, its market cap peaked at $417 million, with total spot trading volume hitting $240 million and contract trading volume reaching $630 million, underscoring a strong listing effect. SKYAI is currently trading at $0.388, and trading activity remains robust.

Berkshire Hathaway’s first shareholder meeting of the post-Buffett era kicked off at 8:00 PM UTC+8 tonight (May 2). This marks the first “Investment Oscars” hosted by new CEO Greg Abel since 95-year-old Warren Buffett stepped down as CEO and Abel officially took the reins. Titled “The Legacy Continues,” the meeting features Abel, insurance chief Ajit Jain, and subsidiary executives Katie Farmer and Adam Johnson fielding shareholder questions. Discussion centers on the company’s capital allocation, stock buybacks, tech holdings strategy, and future growth path. While Buffett remains present as non-executive chairman, the spotlight has shifted to 63-year-old Abel—signaling Berkshire’s formal entry into the post-Buffett era.

On May 2, the United Arab Emirates (UAE) General Civil Aviation Authority announced that airspace capacity across the country has returned to normal, and it has lifted previously imposed precautionary measures. The authority confirmed the decision followed a comprehensive assessment of operational and safety conditions—coordinated with all relevant stakeholders—while emphasizing ongoing real-time monitoring to uphold the highest standards of aviation safety.

May 2 – Iran’s Chief Justice Ebrahim Raisi said Wednesday that Iran does not shy away from negotiations with the United States but strongly rejects U.S. coercion. He noted negotiations are reasonable and logical, but they do not mean accepting U.S. dictates—nor can Iran tolerate the U.S. imposing its will through threats. At the same time, Iran does not seek war and hopes no conflict breaks out. (CCTV International News)

**May 2 –** Nick Timiraos, often dubbed the “Fed’s Mouthpiece,” reported that the Federal Reserve’s internal debate over its interest rate path has hit a critical turning point. Officials are no longer arguing about when to resume rate cuts—instead, they’re now discussing the conditions that could justify a rate hike. In the statement from Wednesday’s policy meeting, three regional Fed presidents (Dallas, Cleveland, Minneapolis) dissented, formally opposing the retention of language suggesting “the next move is more likely to be a rate cut.” Outgoing Chair Jerome Powell acknowledged the committee held a “lively discussion,” noting procedural reasons kept the guidance in place for now—but emphasized the panel’s stance is shifting from dovish to neutral. He added the dissenters’ arguments “completely hold water.” The shift is driven by a sustained energy shock tied to major closures in the Strait of Hormuz. Unlike past one-off price swings that faded on their own, this supply di