Gate Crypto Flash News and Market Updates

According to Asia Economy, South Korea's KOSPI index closed 4.91% lower at 7656.31 points on July 7, triggering a circuit breaker mechanism for the sixth time this year. The benchmark index plummeted over 8% in early afternoon trading at 1:51 p.m., activating an automatic 20-minute trading halt. The circuit breaker, which suspends all equity trading when the KOSPI falls 8% or more from the previous close for one minute or longer, was last triggered on June 26. Individual investors helped narrow

European stock indices opened mixed on July 7. The Stoxx Europe 50 index fell 0.3%, while Germany's DAX declined 0.28%. France's CAC 40 index gained 0.39%, and the UK FTSE 100 rose 0.06%.

On July 7, European stock indices opened mixed. Germany's DAX 30 fell 42.58 points (down 0.16%) to 25,789.94; France's CAC 40 rose 28.26 points (up 0.33%) to 8,508.13; the Stoxx 50 declined 18.06 points (down 0.28%) to 6,379.95. The UK's FTSE 100 gained 7.56 points (up 0.07%) to 10,659.33; Spain's IBEX 35 increased 25.79 points (up 0.13%) to 19,709.59; and Italy's FTSE MIB rose 38.36 points (up 0.07%) to 52,997.50.

According to Guzhen Finance, JD Technology's supply chain fintech platform recently connected to Shanghai Ticket Exchange's supply chain ticket platform and completed its first transaction based on JD Retail's scenario, using bank acceptance bills as the financial instrument. The integration enables the convergence of commercial flow, logistics flow, capital flow, and information flow through real transaction data. By linking enterprise credit and authentic trade relationships with bill services

According to Jin10, as of 3 p.m. Beijing time on July 7, spot platinum fell 0.74% while spot palladium declined 1.81%.

According to Yonhapinfomax, on July 7, a researcher at the Industrial Research Institute expressed concern that Tesla's Full Self-Driving (FSD) feature poses a significant competitive threat to South Korea's automotive sector. The researcher noted that FSD is currently available only on Tesla vehicles priced above 200 million Korean won, but if extended to Chinese-manufactured models, it could cover the Model 3, Model Y, and other sedan and SUV segments. The researcher emphasized that urgent str

According to DB Securities and Hana Financial Investment, on July 7, Kakao's stock fell to 35,400 won as analysts cut target prices to 57,000 and 62,000 won respectively. Both firms maintained 'buy' ratings despite the downward revisions. Q2 earnings are expected to meet market consensus, with DB Securities projecting 2.01 trillion won in revenue and 218.4 billion won in operating profit. However, uncertainty around Kakao's AI business is weighing on the stock price. DB Securities noted that Cha

Switzerland's foreign currency reserves reached 758.794 billion Swiss francs in June, up from a revised 710.9 billion francs in May.

According to OKX's official announcement, the exchange will launch FETUSD and MONUSD X-Perp contracts today (July 7) across web, mobile app, and API. FETUSD X-Perp trading opens at 17:00 UTC+8, followed by MONUSD X-Perp at 17:15 UTC+8.

According to Yonhap Infomax, Hyundai Engineering & Construction issued 500 billion won in convertible bonds on July 7 with a 0% coupon rate and a 5-year maturity. The conversion price is set at 150,607 won, representing a 5% premium to the board resolution date stock price. The bonds were issued without early redemption rights or conversion price reset provisions, enabling the company to secure stable funding without interest expense obligations. The company plans to deploy the proceeds toward f

According to Edaily, Kosdaq trading volume hit a year-low on July 7 as investor funds increasingly concentrated on large-cap semiconductor stocks. The shift reflected weakened market liquidity in the secondary board, with investors' appetite for smaller-cap names subdued amid the semiconductor sector's dominance.

According to Thailand's Ministry of Finance, the country plans to issue 8 billion baht in government savings bonds before September.

According to Farside Investors data, U.S. spot Bitcoin ETF funds recorded $223.5 million of net inflows on July 2, ending a period of heavy redemptions. Fidelity's FBTC led with $166.0 million of inflows, while Ark and 21Shares' ARKB added $91.8 million, though BlackRock's IBIT posted $40.4 million of outflows. Bitcoin traded near $63,200 on Tuesday, with intraday swings between $61,350 and $64,435, reflecting continued market instability. The rebound comes as corporate treasury sales add downsi

According to BonkDAO's official statement disclosed on July 6, the Solana-based DAO suffered a governance attack that drained approximately $20 million worth of BONK tokens from its treasury. An attacker spent roughly $4 million to acquire sufficient voting power through token-weighted voting on BonkDAO's Realms governance infrastructure, then passed a malicious proposal authorizing the treasury transfer. The attack exploited governance mechanisms rather than smart contract vulnerabilities. Bloc

According to Indonesia's Finance Minister, the country's GDP growth is expected to reach 5.6–6.0 percent in 2026.

Brent crude oil broke through $73 per barrel today, rising 1.32% intraday.

According to Deputy Prime Minister and Finance Minister Goo Yoon-cheol, on July 7, South Korea expects its U.S. investment for 2026 to fall below the annual $20 billion target due to currency headwinds. Speaking at a National Assembly committee session, Goo stated that the government will manage investments through operational returns on foreign currency assets rather than currency conversion. He added that the U.S. Treasury is aware of South Korea's exchange rate concerns and the government is

According to 36Kr, Xiaomi recently restructured its Xiao Ai Assistant team, decoupling its technical architecture into three layers: a foundation large language model layer led by Luofu Li's MiMo team; a cloud engineering layer under Luan Jian's team providing standardized interfaces; and end-device product development rights distributed directly to smartphone and automotive operating system teams. Wang Gang, the team's long-time leader, was reassigned to the robotics business. The restructuring

According to Coinglass data cited by Guru Club, over the past 24 hours the crypto market recorded $207 million in liquidations, with short positions accounting for $147 million and long positions for $59.98 million. Bitcoin short liquidations totaled $50.19 million while long liquidations reached $10.42 million; Ethereum recorded $50.63 million in short liquidations and $18.22 million in long liquidations. A total of 65,284 traders were liquidated, with the largest single liquidation occurring o

According to Guru Club on July 7, Germany's Economy Ministry is planning to establish a state-owned strategic gas reserve with initial construction costs up to €1.5 billion (approximately $1.72 billion) to address emergencies. The reserve would hold approximately 24 terawatt-hours of natural gas, representing nearly 10% of Germany's total gas storage capacity, and aims to safeguard against extreme scenarios including critical energy infrastructure damage or severe global gas shortages. The cabin