According to BlockBeats, on September 14th, AI Auntie's monitoring showed that address 0x138…a4d35 appears to be selling ETH. This address deposited 3333 ETH into OKX approximately 4 hours prior, and subsequently withdrew $5.92 million USDT from the exchange, suggesting that it has completed a partial ETH sale involving approximately $8.4 million.

ETH has now climbed back above $2,500. If this address continues to transfer ETH to trading platforms, the subsequent selling trend is worth watching.

According to BlockBeats, on September 14th, Fortune published an article stating that the controversy between Robinhood and AMC over tokenized stocks may only be the beginning of a larger transformation in the US brokerage industry. Robinhood recently tokenized US stocks, including AMC, using blockchain technology, allowing users to acquire financial rights to these stocks, which sparked strong opposition from AMC's CEO.

The article argues that one of the greatest values of tokenized stocks is lowering the barrier for global investors to purchase US stocks. For markets like Brazil and South Africa, where transaction costs are high and some US stocks are difficult to trade directly, blockchain can provide a cheaper and more convenient channel for investing in US stocks, similar to how Napster disrupted the traditional music distribution model.

However, putting stocks on the blockchain also presents controversies, including the fact that token holders typically do not have the voting rights of traditional stocks, and whether the stocks behind the tokens are actually held in custody. Platforms such as Robinhood and Coinbase currently use Alpaca, a FINRA registration intermediary, to handle related records and custody arrangements, but the market may still see "air stock tokens" without real asset backing, potentially triggering investor panic.

The real solution isn't to prevent stock tokenization, but to establish a clear regulatory framework that involves compliant institutions. With Nasdaq investing $100 million in blockchain finance company Payward, and the SEC researching innovation exemptions for certain on-chain stocks, stock tokenization in the US may be accelerating its entry into the mainstream market.

BlockBeats Note: The "Napster Moment" can be understood as "a critical turning point in which a new technology begins to disrupt old industries and traditional interest structures are forced to change."