Tokenized stock trading is drawing activity outside regular US market hours: according to Blockworks data cited by The Kobeissi Letter, over 70% of tokenized stock volume on BNB Chain occurs outside those hours, compared with 63% on Solana and nearly 60% on Base. The value of tokenized stocks rose 15% over 30 days to nearly $3.3 billion, according to RWA.xyz, while the SEC's innovation exemption allows qualifying platforms to trade tokenized US-listed stocks on public blockchains, though xStocks and Ondo Global Markets remain largely unavailable to US investors. The newsletter also covers Strive, which bought 3,311 BTC in the week ending Oct. 9 and now holds 32,773 BTC after investors exercised $208 million in warrants, and Bitcoin miners, which face steep financing costs for AI expansion.
Summary written by Upside AI from the original article. Read the source for full details.
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U.S. stocks closed higher on Thursday even as AI stocks, including Nvidia, sold off sharply. The Dow Jones rose 556.21 points (1.08%) to 52,177.69, the S&P 500 gained 0.33% to 7,744.06, and the Nasdaq Composite lagged with a 0.08% gain to 26,713.03. The September Producer Price Index rose 1.3%, or 6.3% annualized, its highest readings in four years. TradeStation's David Russell said inflation is getting worse as energy prices stay high, and the Fed might be forced to act.
- Wall Street closes higher Thursday but tech stocks lag
- Wall Street closes higher Thursday but tech stocks lag
U.S. stock indexes all closed higher on Thursday despite a sharp sell-off in AI stocks, including Nvidia. The Dow Jones rose 556.21 points (1.08%) to 52,177.69, the S&P 500 gained 0.33% to 7,744.06, and the Nasdaq Composite added only 0.08% to 26,713.03, lagging its peers. The September Producer Price Index rose 1.3% (6.3% annualized), the highest in four years and much higher than expected; TradeStation's David Russell said inflation is getting worse as energy prices stay high and the Fed might be forced to act. The U.S. dollar weakened against most major currencies, with the euro up 0.50% to 1.1213 and sterling up 0.61% to 1.3274, while the Australian dollar fell 0.75% to 0.6920 and the Canadian dollar slid 0.35%.
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