CoreWeave's bond plunge raises a red flag, with the Federal Reserve likely to re-examine its interest rate hike pace.

According to market data from BIT (Bit.com), US stock markets opened lower: the Dow Jones Industrial Average fell 0.04%, the S&P 500 dropped 0.22%, and the Nasdaq Composite declined 0.49%. Among individual stocks, SK Hynix (SKHY.O) fell 3%, SanDisk (SNDK.O) dropped 1.7%, Micron Technology (MU.O) declined 1.9%, Western Digital (WDC.O) fell 0.9%, Apple (AAPL.O) dropped 0.8%, and General Motors (GM.N) slid 6%.

According to market data from BIT (Bit.com), U.S. stocks saw broad declines in the optical communications and computing power cloud sectors, while the biotech sector posted broad gains. Specific stock movements are as follows: Lumentum fell 2.77%, Corning dropped 2.02%, Coherent declined 3.67%, Applied Optoelectronics slid 5.06%, Ciena fell 2.07%, Broadcom edged down 0.25%, and Marvell Technology dropped 1.75%. Oracle declined 1.18%, CoreWeave fell 2.78%, Nebius slid 3.16%, IREN dropped 4.22%, and Applied Digital declined 2.52%. Eli Lilly rose 2.21%, Johnson & Johnson gained 1.15%, Moderna increased 0.73%, Novo Nordisk climbed 1.09%, AbbVie advanced 1.35%, and Merck stayed flat. SpaceX fell 1.71%, Rocket Lab dropped 1.82%, Planet Labs declined 1.18%, AST SpaceMobile slid 2.46%, and Intuitive Machines fell 2.14%.

The Astana International Financial Centre (AIFC) Court in Kazakhstan has, at the request of financial regulators, issued an injunction against six centralized crypto exchanges (CEXs) including Coinbase, BingX, Bitcoin.com and WEEX, banning these platforms from providing or promoting unlicensed digital asset services and distributing related mobile applications within the financial centre. The injunction only applies to the AIFC and its users, not a nationwide trading ban across Kazakhstan. The AIFC operates under an independent legal framework and regulatory body, requiring crypto firms to obtain appropriate licenses to offer services within its jurisdiction. The court order also covers app store operators like Apple and Google, but no separate injunction has been issued to the two companies for now, with regulators required to first consult them. LBank, which was previously part of the legal proceedings, was removed from the case on September 18 after it blocked service access within Kazakhstan. The Astana Financial Services Authority (AFSA) noted that the relevant law enforcement actions started in 2025, with warnings initially sent to more than 20 crypto platforms.

Oct 20 Update: #Bitcoin ETFs: 1D NetFlow: +7,103 $BTC(+$578.22M)?? 7D NetFlow: +4,965 $BTC(+$404.18M)?? #Ethereum ETFs: 1D NetFlow: -42,349 $ETH(-$101.34M)?? 7D NetFlow: -143,108 $ETH(-$342.45M)??

Beating AI Express News: According to Reuters, a U.S. judge has dismissed the sexual abuse civil lawsuit against OpenAI CEO Sam Altman, which was filed by his sister.

As SpaceX and Tesla prepare to release their third-quarter financial results, Wall Street is stepping up efforts to evaluate the valuation and financing arrangements for a potential merger of the two companies. However, Musk and his related firms have not officially announced any merger plans yet. Barclays analysts predict the two sides may announce a deal before the end of this year. If the merger is all-stock, Musk would hold around 37% of the combined company’s equity and approximately 56% of voting rights. RBC analysts put forward a hypothetical transaction price of $480 per share; according to their calculations, original SpaceX shareholders would hold roughly 52% of the combined company’s shares. All related analyses do not represent actual transaction arrangements. AI business is seen as the main rationale for potential integration. SpaceX absorbed Musk’s AI firm xAI in February this year, and has built out its presence in rocket launches, Starlink satellite internet, and AI computing infrastructure. Tesla, meanwhile, focuses on autonomous driving, robotaxis, and humanoid robots, and the two companies are also jointly advancing the Terafab chip manufacturing project. That said, SpaceX’s AI investments have led to massive financing needs. Reports indicate the company generated $7.8 billion in revenue in the second quarter, with a net loss of $541 million, and AI capital expenditures reached $15.8 billion. Morgan Stanley analysts expect SpaceX may need to issue around $80 billion in debt next year. At the same time, Starlink expansion and spectrum acquisitions will also increase capital outlays. This week’s earnings reports will serve as a key window for the market to assess SpaceX’s financing pressure, Starlink’s profitability, and the feasibility of a potential integration of the two companies.