As is tradition, Apple released beta versions of its new operating systems to developers on the first day of WWDC on June 9.

The first beta release of iOS 26 had everything Apple demonstrated in its WWDC keynote: Liquid Glass, the new Phone app and features, the new Camera and Photos experience, and more. Subsequent releases have made refinements to the interface and fixed bugs.

There are still plenty of bugs and unrefined areas, as you would expect with a major iOS update still weeks from release. Not everything is working as it should, and it is not advised to run this version of the OS unless you’re a developer or have a high tolerance for buggy or unoptimized software.

You can read all about all the new features in our iOS 26 superguide and find out the latest information about the iOS beta including when it will launch and how to install it in a separate story.

Update July 22: Apple has released iOS 26 beta 4. This is still a developers-only release, but we expect the Public Beta to be released as early as tomorrow, likely with the same build number.

What’s new in the latest beta release

Here’s what’s new in the fourth beta of iOS 26:

• The “liquid glass” interface effects have been further tweaked, now a little more glass-like than beta 3 but still more legible than earlier betas.
• On first launch, you are asked which notifications you want summaries for. You can individually select from: News & Entertainment, Communication & Social, and All Other Apps.
• There is a new Dynamic option for the iOS 26 wallpapers that cycles through them based on time of day.
• Silence Unknown Callers has three options: Never, Ask Reason for Calling, and Silence. Silence functions as it did in previous versions of iOS, and Ask Reason for Calling is the new Call Screening feature.
• The Camera app has a new splash screen to prepare you for the new simplified design.

iOS 26: How to install the public beta

The iOS 26 public beta test is expected to begin in July, but you can sign up now so you’re ready for it.

1. Click Sign Up on the Apple Beta page and register with your Apple ID.
2. Log in to the Beta Software Program.
3. Click Enroll your iOS device.
4. Open the Settings app, tap General, then Software Update.
5. In the Beta Updates section, select the iOS Public Beta.

It may take a few moments after registering for the beta option to appear in Software Update.

iOS 26: How to install the developer beta

You’ll need to be registered as an Apple developer, but a free developer account will do. You can get one via Xcode or the Apple Developer app in iOS. Here’s how to do it via the Apple Developer app:

1. Download the Apple Developer App from the App Store.
2. Open the app.
3. Tap on Account.
4. Sign in using your usual Apple ID.

Find out everything you need to know about iOS 18 in our iOS 26 superguide.

Recent developments suggest a thaw in US enforcement actions against Chinese-manufactured cryptocurrency mining equipment.

After months of detainment at ports, thousands of units are now being released.

Partial Release of Seized Equipment

According to a Reuters report, US authorities have recently begun releasing previously seized Chinese-manufactured cryptocurrency mining equipment. Taras Kulyk, CEO of Synteq Digital, a mining equipment brokerage firm, stated that thousands of units have now been released; however, as many as 10,000 had been delayed at various ports.

Kulyk suggested that internal opposition within US Customs and Border Protection (CBP) may have contributed to the initial seizures and described it as an attempt to create difficulties for the industry. The seizures began late last year, as reported by CryptoPotato, due to concerns over radio frequency emissions and potential violations of trade restrictions. In addition to Bitmain’s Antminer, mining equipment from MicroBT and Canaan were also detained.

Industry reports indicate that some detained equipment contained chips from Sophgo, a Chinese semiconductor company facing trade sanctions due to its alleged role in facilitating transactions between Taiwan’s TSMC and the blacklisted telecom giant Huawei.

Ethan Vera, chief operating officer at Luxor Technology, confirmed that while some shipments have been cleared, the majority remain held. Both Vera and Kulyk dismissed concerns over radio frequency emissions as unfounded. The situation unfolds amid ongoing trade tensions between the US and China, with Washington maintaining strict controls over technology exports and imports involving Chinese firms.

Not All Shipments Are Free

The release of some equipment marks a shift in enforcement actions that have affected cryptocurrency miners reliant on Chinese-made hardware. Sophgo’s blacklisting in late 2023 was part of broader measures targeting firms suspected of aiding Huawei in circumventing US sanctions.

While the release of mining equipment signals some movement in policy, the fate of the remaining detained shipments remains uncertain.

Data isn’t hard to come by on Wall Street. Between earnings season — the six-week period each quarter where the vast majority of S&P 500 companies unveil their operating results — and economic data releases from the U.S. government, investors are rarely struggling for catalysts that can move the broader market.

But among these market-moving data dumps, nothing has been more anticipated than Nvidia (NVDA 3.67%) lifting the hood on its fiscal fourth-quarter and full-year operating results (Nvidia’s fiscal 2025 ended on Jan. 26, 2025) following the closing bell on Feb. 26.

Nvidia has been the face of the artificial intelligence (AI) revolution for the last two years. The company’s Hopper (H100) graphics processing unit (GPU) and next-generation Blackwell GPU architecture are the undisputed top options in enterprise AI-accelerated data centers, and are what allow AI software and systems to make split-second decisions.

Although investors should have a good bead on what to expect from Nvidia following the release of its operating results, as of this writing on Feb. 25, we’ve already witnessed a number of billionaire money managers weigh in — and their sentiment regarding Wall Street’s AI darling couldn’t be clearer.

Wall Street’s prominent billionaire asset managers speak volumes with their actions

In addition to publicly traded companies reporting their operating results on a quarterly basis, institutional investors with at least $100 million in assets under management are required to file Form 13F with the Securities and Exchange Commission no later than 45 calendar days following the end to a quarter.

A 13F provides a snapshot that allows investors to see which stocks Wall Street’s most prominent money managers have been buying and selling. Even though these filings are stale for active hedge funds, they can still clue investors into the stocks, industries, sectors, and trends that have the full attention of top-tier asset managers.

As you can imagine, Nvidia’s historic ascent tied to the AI revolution made it a popular company for billionaire investors to keep an eye on. But based on 13F filings over the last two years, billionaire money managers have been decisive sellers of Nvidia stock. Note: All figures below have been adjusted for Nvidia’s historic 10-for-1 forward stock split in June 2024.

• Philippe Laffont of Coatue Management: Sold 39,795,532 shares of Nvidia stock since the first quarter of 2023, equating to an 80% reduction.
• David Tepper of Appaloosa Management: Sold 9,569,999 shares since the third quarter of 2023, which works out to a 93% haircut.
• Stanley Druckenmiller of Duquesne Family Office: Sold the entirety of his fund’s 9,500,750-share stake since the second quarter of 2023.
• Stephen Mandel of Lone Pine Capital: Sold his fund’s entire stake of 6,416,490 shares of Nvidia since the second quarter of 2023.

The “why?” behind this persistent selling activity can likely be explained by five factors.

Billionaire investors are selling Nvidia stock hand over fist

The most-logical of all reasons for these four billionaire investors to ring the register is simple profit-taking. These are relatively active fund managers who likely recognize that Nvidia’s roughly $3 trillion increase in market value isn’t something that happens to public companies on a regular basis. The worry is that this selling is tied to much more than just simple profit-taking.

A second possibility is that billionaire fund managers were concerned about an inevitable uptick in competition for Nvidia. Interestingly, while direct competitors tend to get the most attention, internal competitive pressure might be the bigger concern.

Many of Nvidia’s top customers by net sales are developing their own AI chips, with the goal of using this hardware in their AI-accelerated data centers. Even if these AI GPUs fail to match Nvidia’s chips in terms of computing speed, they’ll be notably cheaper and not backlogged. In other words, Nvidia is at serious risk of losing out on valuable data center real estate with its top customers and seeing its pricing power weaken over time.

The regulatory environment for AI chips and related equipment marks a third potential sell-side catalyst for billionaire money managers. The Joe Biden administration clamped down on exports of high-powered AI chips to China from 2022 through 2024. Donald Trump’s administration seems intent on keeping America’s AI intellectual property protected from the world’s No. 2 economy. This means billions of dollars of Nvidia’s quarterly sales to China are now at risk.

Historic precedent is the fourth worry that may have encouraged Laffont, Tepper, Druckenmiller, and Mandel to head for the exit. Every next-big-thing technology for three decades has navigated its way through a bubble-bursting event early in its existence. This is a reflection of investors consistently overestimating the adoption rate and/or utility of a new innovation. If history were to rhyme and the AI bubble bursts, no company would, arguably, be hit harder than Nvidia.

The fifth catalyst that may be responsible for spurring aggressive selling activity by billionaire fund managers is Nvidia’s valuation. While it’s not egregiously expensive on the basis of forward-year earnings, Nvidia’s price-to-sales (P/S) ratio peaked at more than 42 last summer. Businesses that have been on the leading edge of next-big-thing trends have often peaked at respective P/S ratios of roughly 30 to 40 over the last three decades.

Although all eyes have been on Nvidia’s operating results for weeks, billionaire investors spoke with their wallets long before the company’s full-year report came into focus.

Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.

Russian national Alexander Vinnik, previously convicted for running a multi-billion-dollar money-laundering operation through his BTC-e crypto exchange, has been released in a prisoner exchange between Russia and the United States.

In return, Moscow freed American schoolteacher Marc Fogel, who had been detained on drug charges.

Vinnik’s Role in BTC-e and Legal Troubles

Vinnik operated the BTC-e platform from 2011 to 2017 when he was arrested by police in Greece at the request of American law enforcement agencies.

According to the U.S. Justice Department, the exchange processed transactions worth more than $9 billion across six years, much of which was allegedly tied to crimes such as ransomware attacks, drug trafficking, and identity theft.

Authorities claim that BTC-e’s lack of anti-money laundering (AML) and Know-Your-Customer (KYC) policies made it attractive to cybercriminals.

Vinnik was extradited to France in 2020 and sentenced to five years for money laundering. He was later sent back to Greece before finally being handed over to the Americans in 2022.

In May 2024, the Russian pleaded guilty to conspiracy to commit money laundering and faced up to 20 years in prison. During his trial, prosecutors accused Vinnik of facilitating over $120 million in losses and described BTC-e as a “significant cybercrime and online money laundering entity.”

Millions of dollars worth of assets belonging to the platform were seized, including $90 million that authorities bagged in New Zealand. Additionally, the U.S. Treasury Department imposed a $120 million fine on the exchange, with Vinnik personally facing a $12 million penalty.

A Long-Running Extradition Battle

Before his transfer to the U.S., the 45-year-old had been at the center of an international legal battle involving France, Russia, and the United States.

While Russia sought his extradition on lesser fraud charges amounting to just $11,000, France and the U.S. pursued him for broader financial crimes. In 2023, his lawyers tried to include him in a U.S.-Russia prisoner swap involving journalist Evan Gershkovich, but it was unsuccessful.

His exchange for Fogel, an American teacher detained in Russia, marks a rare moment of cooperation between the two countries, especially coming against the backdrop of the ongoing Ukraine war. Vinnik will have to forfeit tens of millions of dollars in assets as part of the deal.