When the US stock market closes, on-chain contracts price the risk first. The midterm elections and chip sell-offs pushed the weekly trading volume to $321.5 billion.

[MSX Research Institute · US Stock RWA Daily Observation] is a signature daily report produced by the leading RWA trading platform MSX. Leveraging our strong macro research capabilities, we capture the core pulse of the global traditional US stock market, liquidity changes, and the RWA tokenization market, helping you to strategically position quality assets. Today’s observation CoreWeave delivered a quarterly report that simultaneously verifies AI computing power demand and capital pressure. In the third quarter of FY2026, the company’s revenue reached 36.61...

The true profit logic of this issue is not to deposit the principal and receive a fixed reward, but to provide effective liquidity for designated trading pairs, generate transaction fees through actual trades, and then distribute activity rewards according to the proportion of contribution to the transaction fees.

Over $20 billion worth of stock tokens have been traded on the chain, and shareholder rights may be the next stop.

On November 11, on this day, the two narratives of regulation and cryptocurrency turned simultaneously at both ends of the East and West: on one side, the Financial Security Institute under the Financial Services Commission of South Korea had its "Information Protection Normalization Assessment System," used to assess the information protection status of financial institutions, hacked. The attackers infiltrated the system by frequently changing IP addresses and disguising themselves as normal visitors, compromising about 300 personal pieces of information from employees of financial institutions.

In Q3 2026, Robinhood Chain contributed about 80% of the network fees for Ethereum L2 across the entire network, and the transaction amount on the on-chain exchange reached $90.7 billion; the share of stock tokens in DEX transactions increased from 2.6% in July to 15.6% in September, with 67.1% occurring during the New York Stock Exchange's off-hours.

This year, FOMC voting member Lorie Logan indicated that the Federal Reserve needs to raise interest rates at least two more times, and the pace may accelerate in winter. Coupled with core CPI exceeding expectations and Waller urging consideration of a 50 basis point hike, the 2-year Treasury yield surged 19 basis points in a single day to 4.74%.

In October, CPI increased by 0.4% compared to the previous month, exceeding expectations. The three major indices closed lower, with Nvidia down about 5.5%, and CoreWeave raised its guidance after hours.

Compared to cats and dogs, the U.S. stock market is obviously more appealing.

Introduction: The midterm elections have triggered volatility in the US stock market, which is underpinned by various issues such as the transition phase in AI and high investment levels. This rapid clearing out is not necessarily a bad thing in the long term, as it helps to digest overly high expectations and positions. After all, the current valuation of US stocks is not high, and this year's gains have been driven by earnings. However, there is also a need for short-term catalysts. The current market requires two catalysts: either significant breakthroughs and advancements in AI, or the Federal Reserve ending its tightening and possibly shifting towards easing, with these two catalysts being mutually causal. The first quarter of next year is a critical point: 1) A clear turning point for the Federal Reserve is expected to arrive early next year. 2) In January next year.

The scale of tokenized US stocks has reached 4.6 billion dollars, with 4.17 billion (accounting for over 91%) of the underlying real stocks held in custody by the US broker Alpaca, with Binance bStocks, Ondo, Robinhood, and others all connected. Four institutions, including Figure and Securitize, jointly petitioned the SEC to modernize transfer agent rules.

The total market value of tokenized stocks has surpassed $3 billion, but after the US stock market closed, the Hyperliquid order book depth shrank by about 33%; cross-platform arbitrage, after deducting spread and slippage costs, is unprofitable even for a $1000 trade.

Will BTC return to a bear market? How will the chain reaction of the U.S. stock market crash affect the market?