Crypto Pulse—TradFi

Overview The November 3, 2026 U.S. midterm elections—in which Democrats swept control of both chambers of Congress and flipped key governorships including Texas—triggered a two-stage market repricing that culminated on Thursday, November 5 in Wall Street's steepest single-day selloff since April 2025, erasing an estimated $2.9 trillion in AI-led equity value, sending the Nasdaq Composite down 5.52% into correction territory, knocking eight major semiconductor stocks down an average of 12.97%, an

U.S. stocks plunged on November 5, 2026, as investors reassessed the outlook for artificial intelligence following Democratic victories in the U.S. midterm elections. The Nasdaq Composite fell 5.52%, the S&P 500 dropped 4.36%, and the Dow Jones Industrial Average declined 3.44%.A major concern is the possibility of tighter restrictions on AI data center construction, including a proposed Democratic-backed bill that would temporarily halt new projects.The selloff also comes at a critical moment f

IREN reported fiscal first-quarter 2027 revenue of $228 million after the U.S. market close on November 5, up 66% from the prior quarter. AI Cloud revenue nearly tripled to $200 million, up 182% quarter over quarter, and now makes up 88% of total revenue.The company also moved its target of more than $4 billion in operating annualized run-rate revenue (ARR) from year-end 2026 to January 2027, and said it may extend to the end of February 2027.IREN shares closed the regular session at $18.03, dow

The Invesco QQQ Trust closed at $647.05 on November 5, 2026, down 6.49%, as AI and chip stocks led a broad selloff. AMD and Micron each fell more than 17%, and Nvidia fell 9.26%.It was the second day of AI selling after the U.S. midterm elections. On November 4, the selling was limited to data center stocks, after the Texas governor result raised the risk of a construction slowdown. On November 5, it spread to chips and the wider market.On MEXC, QQQ futures closed November 5 down 6.18% from thei

Overview Contracted value, annualised run-rate revenue and actually recognised revenue currently differ by a factor of about 59, and that is where reading this report has to start. IREN's audited contracted revenue comprises $5.1 billion of remaining performance obligations under ASC 606 plus $11.4 billion of lease contract value under ASC 842, totalling roughly $16.5 billion, against AI Cloud revenue of $70.5 million actually recognised in the last fiscal quarter, which annualises to about $282

Overview Margins are already improving, just not on the gross margin line. Second-quarter non-GAAP gross margin fell 3.2 percentage points year over year to 73.1%, while non-GAAP operating margin fell only 0.29 points to 13.81%, meaning 2.91 of those 3.2 points were absorbed below the gross line. That is precisely Cloudflare management's argument: AI requests carry lower gross margin but also lower acquisition cost, and upsells such as sandboxes and AI gateways offset the difference at the opera

The U.S. Bureau of Labor Statistics will release the October 2026 jobs report on Friday, November 6, at 8:30 a.m. ET. Economists polled by Reuters expect nonfarm payrolls to rise by 65,000, after a much weaker-than-expected gain of 29,000 in September.The report is one of the last major labor-market readings before the Federal Reserve's December 8–9 meeting. This preview covers the forecasts, what September showed, and how stocks and MEXC index futures moved on recent jobs report days.October Jo

AppLovin reported third-quarter 2026 revenue of $2.19 billion on November 4, up 55% from a year earlier. Net income rose 72% to $1.44 billion, and diluted EPS of $4.30 came in above the $4.03 analyst estimate. AppLovin guided fourth-quarter revenue to $2.365 billion–$2.395 billion.APP closed the regular session at $271.75, up 10.7% on the day, and ended the extended session at $333.80 (+22.8%). The APPSTOCK_USDT futures on MEXC kept trading after 8:00 p.m. ET and were at 325.34 USDT at 11:00

Qualcomm reported fiscal fourth-quarter 2026 revenue of $10.32 billion on November 4, down 8% from a year earlier. Handset chip revenue fell 26% to $5.14 billion, while automotive revenue rose 89% to a record $1.99 billion. Non-GAAP EPS was $2.17, one cent above the $2.16 estimate.QCOM closed the regular session at $173.19, up 5.3%, then fell 7.4% after hours to $160.37 by 8:00 p.m. ET. The QCOMSTOCK_USDT futures on MEXC kept trading after the extended session and were at 157.41 USDT at 11:00 p.

AI data center stocks fell sharply on November 4, the day after the U.S. midterm elections, even as the broader market rallied. Modine (MOD) dropped 21.4%, Hut 8 (HUT) 23.2%, Vertiv (VRT) 12.9% and Nvidia (NVDA) 3.2%.The trigger was the Texas governor race. Democrat Gina Hinojosa defeated Gov. Greg Abbott, according to the Associated Press race call reported by NPR. During the campaign, Hinojosa called for a pause on new data center approvals in Texas.On MEXC, stock futures on Hut 8 and Vertiv h