Opinion · Nov 7, 2026 18:12 UTC

RWA tokenization is the overlooked driver of spot-led moves

In practice, RWA tokenization and protocol revenue interact before price fully reflects either one.

Against the backdrop of “U.S. Treasury moves to cut off crypto exchange MEXC over $16 billion in alleged illicit flows” and “Bitcoin Doesn't Need a Bank, Yet MicroStrategy Wants to Become One”, positioning still matters more than slogans.

Meanwhile, sanctions screening can either confirm the move or expose it as temporary.

Desks that separate spot ETFs from sanctions screening tend to react less emotionally to noise.

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