Gate Crypto Flash News and Market Updates

According to the World Bank, the Philippines reached upper-middle income status on July 1 after its gross national income per capita surpassed $4,850, exceeding the $4,636 threshold. The upgrade was driven by broad-based economic expansion, with the Philippine economy averaging 5.8% growth from 2021 to 2025 and lifting GNI per capita by 8.5% in 2025. The Philippines was one of five nations moving from lower-middle to upper-middle income status this year.

According to a Fox Business crypto reporter, Wall Street is looking beyond the recent crypto bear market, with enforcement bodies continuing discussions on Clarity. The reporter also noted that criticism from Senate Democrats has been raised regarding former President Trump's crypto earnings.

According to Farside Investors, Strategy has launched a Digital Credit Capital Framework with plans to raise STRC dividend to 12%, establish U.S. dollar reserves, conduct discounted buybacks of preferred securities, and authorize bitcoin sales to support dividend payments and reserve funding. STRC, the firm's preferred product issued at approximately $100, features an adjustable coupon mechanism designed to stabilize price through increased dividends when trading below $100 and reduced dividends

According to CNBC, major chip stocks tumbled on the first trading day of Q3 on Wednesday (July 1), reversing gains from a blockbuster second quarter. Micron dropped 11%, erasing $138 billion in market cap, while Intel fell 9% and Advanced Micro Devices declined 7%. The VanEck Semiconductor ETF (SMH) slid more than 5%, a day after closing Q2 up 71%. The selloff was triggered partly by reports that Meta may rent out excess AI computing capacity, raising concerns that AI processing supply could be

On Wednesday (July 1), U.S. asset class ETFs delivered mixed results. Gold ETF rose 0.6%, while Brent crude oil fund fell 3.15%. Among major equity benchmarks, Nasdaq-100 ETF dropped 1.52%, emerging market ETF declined 2.82%, and Barclays U.S. Convertible Bond ETF fell 1.74%. VIX-linked product gained 1.04%, and agricultural commodities fund rose 0.71%. S&P 500 ETF and Russell 2000 ETF were roughly flat to slightly down, while long-duration U.S. bond ETF fell 0.68%.

Crédit Agricole recently launched EURXT, a euro-backed stablecoin issued through CACEIS, the bank's asset servicing arm. The electronic money token, pegged 1:1 to the euro, was launched with 20.02 million tokens in circulation, matched by roughly 20.02 million euros in reserves held by CACEIS Bank. EURXT is issued on Ethereum and initially targeted at institutional investors and corporate clients. The first use case involved a subscription into a tokenized Amundi Money Market Fund, positioning t

According to The Block, Standard Chartered predicted today that Morpho (MORPHO) token could reach $60 by the end of 2030, representing a potential 33x increase from current levels. The British banking giant cited Morpho Vaults and DeFi lending expansion as key drivers for the projected valuation increase. Following the prediction, MORPHO experienced a significant price jump.

According to Bloomberg, the EV Price Return Index gained 0.21% to close at 3562.45 on Wednesday, July 1. During Asia-Pacific morning trading, the index exhibited a V-shaped reversal pattern, hitting a session low of 3517.16 at 10:14 Beijing time before recovering to post gains in subsequent trading.

According to Bloomberg, CME's July futures contracts linked to SOFR and the federal funds effective rate saw a surge in trading activity and open interest on Monday, with the spread between the two contracts reaching a record trading volume of 112,590 contracts. The spike was driven by diverging views among top Wall Street banks regarding the impact of increased U.S. Treasury supply this month. The trading activity included a 60,000-contract sell-off on Monday and notable buying interest on Wedn

On July 1, Jin10 released the Wall Street Fear and Greed Index for the U.S. market close (Wednesday).

On Wednesday, July 1, U.S. industry ETFs posted mixed results. Financial sector ETF led gains with a 2.18% increase, while the technology sector ETF fell 2.57% and the global technology stock index ETF declined 3.17%. Semiconductor ETF was the biggest loser, dropping 5.40%. Among the S&P 500's 11 sectors, information technology declined 1.84%, while the financial sector rose 2.13% and the telecommunications sector gained 2.62%.

Elon Musk on Wednesday rejected a Wall Street Journal report claiming SpaceX demonstrated a prototype AI device using Qualcomm's Snapdragon processor to investors, calling the story "utterly false" on social media platform X without elaborating further. QCOM stock dropped 0.5% following Musk's rebuttal and was tracking its fourth consecutive session of losses, while SpaceX shares fell 7.3% on the day. According to the Journal's report, the conceptual handset was designed to run on a proprietary

TP ICAP has completed its acquisition of Vantage Capital Markets, adding more than 80 brokers to its Global Broking division and expanding across London, Hong Kong, Tokyo, and Dubai. The institutional brokerage specializes in equity derivatives, fixed income, and execution services, serving hedge funds, asset managers, banks, and other institutional investors. The transaction was finalized following regulatory approvals, though TP ICAP did not disclose the purchase price.

According to BNB Chain, the network entered Phase 3 of its Beacon Chain migration on July 1, 2026, introducing a self-service recovery tool for users holding BEP2 and BEP8 tokens on the deprecated chain. The tool allows users to manually recover assets and transfer them to the BSC network as the older infrastructure is phased out. Users should access recovery services only through official BNB Chain channels and the bnbchain.org domain, avoiding third-party recovery messages and suspicious walle

According to ChainCatcher, Empery Digital may sell a portion of its 3,000 Bitcoin holdings to finance a $65 million AI data center project. The company currently has no plans to increase its Bitcoin holdings.

According to Jin10, on Wednesday, July 2, U.S. stock indices closed mixed. The Dow Jones fell 0.02%, the S&P 500 declined 0.2%, and the Nasdaq declined 0.66%. Major semiconductor stocks posted sharp declines: Micron Technology (MU) fell 10.5%, SanDisk (SNDK) fell 10.6%, AMD fell 6.8%, and Nvidia (NVDA) fell 1%. Meta (META) surged 8.8%, while the Nasdaq Golden Dragon China Index rose 2.9%.

Caterpillar stock declined 6.9% recently, marking its largest single-day drop since April 2025. Analyst Michael Burry disclosed that he has taken a short position in the company's stock for the first time, according to reports.

CertiK launched CertiK Hunt on 1 July 2026, an invite-only Web3 security platform connecting vetted security researchers with projects. Through the platform, projects can run bug bounty programs, audit competitions and AI challenges. The key differentiator is CertiK's independent review process: every submission is independently reproduced and severity-rated by CertiK itself rather than the protocol, preventing the payout disputes and severity downgrades that commonly occur on self-run bounty pr

On July 1, the S&P 500 fell 0.2% at market close, with the Technology sector down 1.7% and the Energy sector down 0.8%. Financial stocks rose 2.1%, while Telecommunications gained 2.6%. The Nasdaq 100 declined 1.5%, with AI and chip stocks leading losses. Nebius Group fell 16.2%, CoreWeave dropped 13.6%, and storage chip makers including SanDisk, Teradyne, and Micron fell over 9%. ASML ADR declined 7.5%. Major tech stocks showed divergence, with Meta up 9%, AppLovin up 9.6%, and Palantir up 8.1%

According to FactSet, the S&P 500 surged 9.6% in the second quarter through June 30, while the Nasdaq Composite gained roughly 12%. The Philadelphia Semiconductor Index jumped 94%, marking its second-strongest quarterly performance since 1994. Strong earnings revisions drove gains, with S&P 500 second-quarter profit growth expectations reaching 23.1% year-over-year. Despite the rally, investors now worry about pullback catalysts in the third quarter. Key concerns include portfolio rebalancing at