Crypto’s Dog Days

The ancient Greeks believed the summer heat was caused by a star.

The Greeks noticed that the warmer temperatures coincided with the star Sirius appearing on the horizon. Sirius is the brightest star in the sky, and it was thought to have contributed to the sweltering heat.

The star is also part of the constellation Canis Major (Big Dog). And thus, we get the expression “dog days of summer.” The expression is usually associated with lethargy, like a dog lounging on a porch under the oppressive heat.

Lethargy, oppressive heat—that about sums up the state of crypto right now.

Let me show you what I mean…

The Meeting That Wasn’t

Last Friday was supposed to be consequential…

The Securities and Exchange Commission (SEC) was expected to hold an open meeting on Friday, August 14, 2026.

The agenda was to vote on rules tailored for digital assets.

These included items related to an innovation exemption for tokenized stocks. Fundraising exemptions to allow crypto startups to more easily raise capital were on the table. And new rules related to investment contracts for crypto assets were also part of the agenda.

The scheduled meeting came on the heels of the U.S. Senate failing to bring the CLARITY Act to a vote before the long August recess.