On July 24, 2026 (Beijing time), the US stock market experienced significant turbulence. Tesla (TSLA) closed at $319.69, plunging 14.52% in a single day—the largest one-day drop since June 2025. Despite holding the top spot in global EV sales for years, Tesla faced a direct market reaction after releasing a Q2 earnings report that showed record revenue but sharply reduced profits.
At the same time, the crypto market was also volatile. Bitcoin (BTC) traded at $64,914.5, down 1.82% over 24 hours but up 3.73% over the past week. Ethereum (ETH) stood at $1,868.76, down 3.38% in 24 hours. Gate’s platform token GT was at $6.62, down 1.19% over the same period.
The synchronized volatility between traditional assets and crypto on the same day is no coincidence. When tech giants like Tesla see dramatic price swings, cross-market investors pay close attention. For those tracking both crypto and US equities, a key question arises: How can you trade different asset classes directly on a single, unified platform?
Gate TradFi was developed precisely in response to this need. It allows users to purchase US stocks directly with USDT, without opening a traditional brokerage account, enabling unified management of crypto and stock assets within one account system. Using Tesla’s one-day plunge as a starting point, this article unpacks the event and market reaction, then provides a comprehensive introduction to Gate TradFi’s features, workflows, and operations for US stock spot trading.
A Financial Report of "Record Revenue, Pressured Profits"
Tesla’s Q2 2026 earnings report is a bundle of contradictions.
On the revenue side, the company performed well. Q2 total revenue reached $28.236 billion, up 26% year-over-year and beating the market expectation of $25.71 billion. Vehicle deliveries hit 480,100 units, up 25% year-over-year—a record for the period. For the first time, trailing 12-month revenue surpassed $100 billion.
But the profit side told a different story. Adjusted EPS came in at just $0.33, well below the $0.50 consensus. GAAP operating profit was $398 million, plunging 57% year-over-year, with the operating margin dropping sharply to 1.4%. Overall automotive gross margin fell to 16.8%, and ex-regulatory credits, auto gross margin continued to decline quarter-over-quarter.
What ate into profits? The answer: capital expenditures.
Tesla’s Q2 capex soared 142% year-over-year to $5.79 billion, with full-year capex expected to exceed $25 billion. The company signaled that heavy capital investment will continue for another 2–3 years. On the earnings call, Elon Musk described this period as "the largest investment cycle in history," warning that 2026 will be "a year of massive capital spending." These funds are flowing into the expansion of the Cortex 2 AI supercomputer cluster, the Terafab chip R&D project with SpaceX, and the build-out of Robotaxi and Optimus humanoid robot production lines.
The immediate result: quarterly free cash flow turned negative, to -$1.092 billion.
In other words, Tesla is in an awkward transition phase—its auto business remains profitable but margins are under pressure, while AI and robotics have huge potential but are currently burning cash rather than generating profits. The market’s read on this report: the tension between long-term vision and short-term profitability has stretched beyond what investors are willing to tolerate.
Market Reaction: A 14.52% Single-Day Drop
The market’s verdict came swiftly on the first trading day after the report.
On July 24, Tesla opened at $341.00, fell as low as $315.73 intra-day, and closed at $319.69. The 14.52% single-day drop wiped out over $170 billion in market value, sending Tesla shares to their lowest level since August 2025.
Short sellers were the clear winners. According to S3 Partners, Tesla shorts gained about $4.12 billion in mark-to-market profits on July 24 alone. Roughly 3% of Tesla’s float is currently sold short—the highest ratio among the "Magnificent Seven" US tech giants.
Yet the market wasn’t one-sided. Retail investors bought the dip—Vanda Research data shows Tesla was the most net-bought stock by retail traders that day, with net inflows of $42 million.
Institutions were split. Morningstar analyst Seth Goldstein argued that Tesla is undervalued and maintained a $450 fair value target. In contrast, BNP Paribas analyst James Picariello maintained an "underperform" rating and a $280 target. Morgan Stanley cut its target to $400, while Wells Fargo set a $130 price target.
At the heart of this debate: Is Tesla an auto company, or an AI-driven tech conglomerate? If the former, its valuation is still high; if the latter, it remains unclear whether today’s massive investments will translate into sustainable returns down the line.
Gate TradFi: Buy and Sell Stocks Directly with USDT
When stocks like Tesla experience sharp swings, investors naturally ask: Are there alternatives to traditional brokerage accounts for participating?
Gate TradFi is Gate’s traditional finance trading section, now upgraded to offer a comprehensive suite including CFDs, perpetual contracts, and spot tokens. In June 2026, Gate launched stock trading services covering more than 12,500 stocks and ETFs across US, Hong Kong, and Korean markets.
Stock Trading
This is the core feature of Gate TradFi’s stock trading.
Unlike common CFDs or tokenized derivatives, Gate connects with regulated brokers to offer direct stock trading services. This is independent of the traditional CFD structure, with no funding or overnight holding fees. Users are buying actual stocks, not just trading price fluctuations via derivatives.
After purchasing stocks on Gate, users gain real price exposure and participate in price movements. Note, however, that dividends, voting rights, and other shareholder entitlements may differ from traditional stock ownership.
Buy Directly with USDT—No Brokerage Account Needed
Traditional US stock investing typically requires opening an overseas brokerage account, linking an international bank card, and depositing fiat. Gate TradFi offers a completely different path:
Users only need to hold USDT to trade stocks and ETFs from US, Hong Kong, and Korea directly on Gate’s platform. No need for a traditional brokerage account or fiat conversion; all funds flow directly between USDT and stocks.
The process: Set up a compliant Gate account and complete identity verification; hold or acquire USDT; transfer USDT to your stock account; search for the stock ticker in the stock section; select the quantity and click buy for real-time execution.
Fractional Shares and Unified Account Management
Gate TradFi supports fractional shares, with a minimum investment of just 0.01 shares. This means that even if Tesla trades above $300, users can participate without committing hundreds of dollars at once—significantly lowering the barrier to high-priced stocks.
Account-wise, Gate TradFi uses a unified account system. No need to open a separate securities account; one Gate account handles crypto spot, crypto derivatives, and traditional equities. After transferring USDT to your TradFi sub-account, you can start trading. Account balances, holdings, and trading records are all viewable in one place.
Coverage Across Three Major Markets
As of July 2026, Gate TradFi stock trading covers:
- US Market: Over 10,000 stocks and ETFs, including Apple, Microsoft, Nvidia, Tesla, Google, Amazon, and more
- Hong Kong Market: Tencent, Alibaba, Xiaomi, Meituan, and others
- Korean Market: Launched June 2026, covering stocks listed on Korean exchanges
Users can allocate assets across the US, China, and Korea all on one platform.
How to Buy Tesla Stock Directly on Gate
For users looking to trade Tesla stock directly on Gate, there are two main paths.
Path 1: Gate TradFi Stock Spot Trading
Users can purchase Tesla stock spot directly with USDT via the Gate TradFi stock section. The process is as follows:
- Set up a compliant Gate account and complete identity verification
- Hold or acquire USDT for trading
- Transfer USDT to your stock account
- Enter the Gate stock section and search for Tesla or TSLA
- Select the number of shares to buy (fractional shares supported, minimum 0.01)
- Click the buy button to execute a real-time trade
This is a spot trade, independent of the CFD system, with no funding or overnight holding fees.
Path 2: Gate gStocks Tokenized Securities
Gate’s gStocks section offers spot trading of tokenized securities such as TSLAG (Tesla). Each gStock token is backed 1:1 by actual shares of the underlying company. When you buy gTSLA, the token is fully collateralized by real Tesla shares held securely in custody—this is not a synthetic model, CFD, or derivative.
On July 23, 2026, Gate completed a major upgrade to the gStocks platform, adding five key financial features: staking and borrowing, Earn product yields, unified account integration, leveraged trading, and stock dividends. The platform now supports over 70 tokenized securities, spanning US and Korean stocks, ETFs, and private market instruments.
The core difference between the two paths: Stock spot trading gives you direct price exposure to real stocks, with the main differences from direct ownership being in dividend handling and voting rights. gStocks tokenized securities are backed 1:1 by the underlying stocks. Users can choose the approach that best fits their trading objectives, risk tolerance, and portfolio strategy.
Conclusion: A Cross-Market Perspective on Volatility
Tesla’s 14.52% single-day drop is emblematic of a company in strategic transition. Revenue growth and profit pressure coexist; AI investment and cash burn run in parallel—these structural contradictions are not easily resolved in the short term. The market’s division is reflected in the tug-of-war at that $319.69 closing price.
For investors tracking both crypto assets and US equities, Gate TradFi offers a compelling entry point. It enables users to access over 12,500 stocks and ETFs with USDT, without the need for a traditional brokerage account. While it doesn’t change the fundamentals of the underlying assets or eliminate market risks, it fundamentally reshapes how users access these markets—using USDT as a bridge to allocate assets across markets within a single account system.
Whether it’s Tesla’s next move or Gate TradFi’s ongoing product evolution, both are worth close attention. But in any market, understanding product mechanisms, assessing your own risk tolerance, and making independent, well-informed decisions are the prerequisites for participation.
