Gate Crypto Flash News and Market Updates

According to Citi research strategists including Adam Pickett, the firm has reduced its remaining long positions in South Korea's Kospi index and downgraded Asia emerging markets from overweight to neutral in its global asset allocation on Friday. The move follows Citi's U.S. strategists' recent downgrade of the semiconductors sector, with the firm noting that when semiconductor sector peaks, the overall market may top simultaneously.

The onshore yuan closed at 6.7804 per U.S. dollar at 4:30 PM Beijing time today, up 62 points from the previous trading day's official close and 26 points higher than yesterday's overnight close.

According to Santiment, XRP's 30-day and 365-day Market Value to Realized Value (MVRV) ratios have plunged to -45% and -47%, respectively, marking the token's worst average returns in 12 years. The MVRV metric compares an asset's current market value with the average price investors paid, with deeply negative readings indicating widespread capitulation across holders. At the time of writing, XRP is trading at $1.10, according to CoinCodex.

UK services sector PMI final reading came in at 48.8 in June, matching expectations. Initial estimate was 48.7.

The UK services sector purchasing managers' index (PMI) for June came in at 48.8, beating expectations of 48.7 and holding steady from the prior month's reading of 48.7.

According to Citigroup analyst Francesco Martoccia, Brent crude oil may fall to $60 per barrel as disruptions at the Strait of Hormuz gradually ease. "Fundamentals are rapidly reasserting themselves," Martoccia wrote in a report, citing recovering shipping flows, weaker spot crude markets, and inventory declines below expectations. Goldman Sachs and Morgan Stanley have echoed similar concerns, warning that global oil markets face an oversupply risk as traffic through the strait normalizes. Morga

Alibaba Cloud launched Qoder Enterprise on July 3, introducing QMind, a personal cloud-based knowledge repository that enables knowledge sharing across products, devices, and team members. The company also unveiled a resource pooling Credits payment model, allowing enterprise administrators to dynamically allocate usage credits to team members on demand.

According to CCTV, on July 3, the coffins of Iran's late Supreme Leader Ali Khamenei and his slain family members were placed at Imam Khomeini Mosque in Tehran. A portrait of Khamenei's deceased granddaughter was displayed in front of the smallest coffin. Iranian officials, religious leaders, and family members attended the funeral ceremony to pay their respects.

According to a joint statement by the Israeli Defense Forces and Shin Bet on July 3, Israeli forces conducted an airstrike in northern Gaza that killed Mohammed Naim Jandia, a senior military commander of Hamas. Jandia served as the military security officer of Hamas's Shujayya Battalion. Israeli officials alleged he participated in the October 7, 2023 attack on Israel and was responsible for detaining Israeli personnel.

Following the July non-farm payroll release on July 3, market expectations have shifted significantly, with the probability of the Federal Reserve maintaining interest rates steady in both July and September increasing sharply. According to market analysis, the latest employment data triggered a reassessment of policy expectations, reducing bets on additional rate cuts in the near term. Meanwhile, the European Central Bank's recent June rate hike was confirmed as the right decision by ECB Presid

According to The Information, Anthropic is in early discussions with Samsung Electronics to manufacture a custom artificial intelligence chip, marking a potential move toward building its own silicon stack as compute demand becomes a key cost and capacity constraint in the AI industry. The talks remain preliminary, with the chip's design, workload, and performance profile not yet finalized, and Anthropic has not committed to Samsung as a manufacturing partner. Samsung's appeal lies in its advanc

Microsoft announced today the launch of Microsoft Frontier Company, a new operating business designed to accelerate enterprise AI transformation. The company will invest $2.5 billion in the initiative, deploying approximately 6,000 engineering and industry specialists to work directly with customers on designing, implementing, and optimizing AI systems. The model combines industry expertise, AI engineering capabilities, change management, and continuous improvement services to help organizations

According to Seoul Economic Daily, Meta is considering a partnership with Samsung to produce custom artificial intelligence chips valued at 10 trillion Korean won, as reported on July 3.

According to BlockBeats, AI prediction network THEA completed an $8 million funding round on July 3, led by Maven11 Capital, Spartan Group, Manifold Trading, HackVC, and Fisher8 Capital. The funding will support infrastructure development and the creation of an on-chain coordination layer on Solana. THEA plans to launch a utility token for network access and settlement payments.

According to European Council President Costa, the EU will approve the Savings and Investment Union this year.

According to Hankyung, on July 3, shares of South Korea's three major shipbuilders—Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries—declined 0.83% to 8.64% year-to-date, despite record commercial orders. The three firms have achieved 65% of their 2026 order targets at $17.25 billion, yet stocks fell sharply in late June after the Canadian Next Generation Submarine Project procurement was restructured to select a single contractor rather than split awards. Uncertainty over the

According to Jin10, on July 3, the Shanghai Gold Exchange released trading data showing compensation fee directions: Au(T+D) longs receive payment from shorts, while Ag(T+D) shorts receive payment from longs. Data reflects trading activity from July 2 (20:00-02:30) and July 3 (09:00-15:30).

According to Jie Jie News, Kingsoft Cloud is accelerating GPU cluster construction in the second half of 2026 to meet surging demand from major clients. Xiaomi's GPU requirements have expanded from 10,000-card clusters, with its budget allocation increasing from approximately 4 billion yuan to over 10 billion yuan. Alibaba's AI team signed a 5-year GPU rental contract with Kingsoft Cloud covering over 3,000 eight-card GPU servers, with projected annual revenue exceeding 4 billion yuan upon full

Moomoo has launched Moomoo Engine, an integrated framework designed to connect the platform's fundamental research, options analysis and technical trading tools into a single workflow for active investors. The framework addresses a core pain point in retail trading: investors often use separate tools for research, valuation, options strategy, charting and execution across multiple platforms. Moomoo Engine reorganizes these functions into three connected workflows—Fundamental Engine for research,

On July 3, US spot Bitcoin ETFs posted $221.7 million in daily inflows, marking the strongest intake since early May, as Bitcoin recovered above $61,000.