Gate Crypto Flash News and Market Updates

According to China's Ministry of Commerce spokesperson He Yadong on July 2, the China-Germany Economic Cooperation Joint Committee will be restarted with an aim to innovate cooperation mechanisms. The two countries will establish a trade and investment working group and an industrial cooperation working group to conduct policy exchanges and government-business dialogues. Both sides are accelerating the advancement of all initiatives, with plans to hold a ministerial-led meeting of the cooperatio

According to China's Foreign Ministry spokesman Guo Jiakun, Japan has been promoting its new version of a "free and open Indo-Pacific" initiative this year, with senior officials lobbying the Philippines, Vietnam, and Australia to support the concept. Guo stated that the initiative, despite its rhetoric about freedom and openness, is fundamentally aimed at confrontation and division, contradicting the region's shared desire for peace, development, and cooperation.

According to Jin10, gold rebounded on July 2 as the U.S. dollar weakened during European trading. CME FedWatch tool data shows traders are pricing a 64% probability of a Federal Reserve rate hike in September, with odds of a hike by year-end near 85%. Market focus has shifted to the upcoming U.S. nonfarm payroll report.

According to Binance Wallet, the Binance Alpha airdrop kicks off on July 2 at 10:00 UTC. Users holding at least 226 Binance Alpha Points can claim a token reward on a first-come, first-served basis, with each claim consuming 15 points. The airdrop features three reward tiers: common (80% of pool), rare (15%), and super rare (5%), with users randomly assigned to one tier upon claim.

According to Jin10 Data, Chinese Commerce Ministry spokesperson He Yadong responded on July 2 to questions about reducing tariffs on U.S. agricultural products during a regular press briefing. The ministry stated that agricultural trade is an important part of China-U.S. economic and trade cooperation. Following recent negotiations, both sides have set indicative targets for expanding bilateral agricultural trade and agreed in principle to include relevant farm products in a reciprocal tariff re

Morgan Stanley maintained its overweight rating on Meta on July 1, setting a $775 price target, implying 37.6% upside from the $563.29 closing price. The investment bank believes Meta is more likely to pursue renting out spare GPU capacity rather than building a full-stack cloud service competing with AWS. Morgan Stanley estimates that renting 250 megawatts of capacity at $40 per watt annually would increase 2028 earnings per share by approximately 8%, scaling to 33% accretion at 1,000 megawatts

OpenAI and Broadcom unveiled Jalapeno, a custom AI inference processor designed with AI model participation, employing TSMC's 3-nanometer technology. According to Broadcom CEO Chen Fu-Yang, Jalapeno's compute performance matches Nvidia's Blackwell and Google's TPU, with early tests showing significantly better power efficiency than current market alternatives and potential 50% reduction in large model inference costs. The chip's 9-month development cycle—half the industry's typical 18-24 month t

German Chancellor Friedrich Merz announced plans to propose tax law simplification measures this autumn (2026). The announcement underscores the government's commitment to reducing regulatory complexity in the German tax system.

According to Jin10, multiple foreign exchange options contracts are set to expire on July 2 at 10 p.m. Beijing time, including EUR/USD, USD/JPY, USD/CHF, and GBP/USD pairs. A total of 10 strike prices with notional values exceeding $1 billion each are involved in the expiration.

According to German government documents, Germany will launch a plan to accelerate power grid expansion by the end of 2026.

According to Shanghai Futures Exchange (SHFE) data reported by Jin10 on July 2, pulp futures warehouse inventory rose to 276,569 tons, up 3,380 tons compared to the previous trading day. Stone oil bitumen (asphalt) factory inventory decreased by 500 tons to 17,970 tons. Other tracked commodities including pulp factory stock, coated paper, fuel oil, and crude oil futures remained unchanged from the prior day.

According to Jin10, on July 2, Shanghai spot gold closed at 888.61 yuan per gram during the midday session, 0.2 yuan below the international gold price of 888.81 yuan per gram.

SanDisk Corporation (SNDK) hit $2,023.54 on July 2, 2026, marking a 700% year-to-date surge, according to StockAnalysis. The rise was partly driven by $42 billion in multi-year supply contracts signed in the company's fiscal Q3, which locked in minimum revenue through 2030 and shifted SNDK's valuation profile from a traditional commodity cyclical to a contracted-earnings model, per TheStreet.

According to Nasdaq, companies raised $129.3 billion from new listings in the first half of 2026, marking the strongest first-half total in U.S. exchange history. SpaceX's $85.7 billion IPO was the largest on record, accounting for roughly two-thirds of the total. Seven of the ten largest IPOs of the year listed on Nasdaq, with AI, semiconductors, quantum computing, biotech and aerospace among the largest deals. Cerebras completed the largest semiconductor IPO ever, Quantinuum the largest quantu

German Chancellor Friedrich Merz committed to completing the country's pension reform by the end of 2026. The statement underscores the government's priority to address structural challenges in Germany's aging social security system.

According to a statement by the Ministry of Commerce on July 2, China has invited Maros Sefcovic, the EU Commissioner for Trade and Economic Security, to visit China this autumn to hold the second meeting of the China-EU Trade and Investment Consultation Mechanism. The mechanism, newly established as a regular dialogue platform, is expected to hold one to two ministerial-level meetings annually.

According to a Foreign Ministry spokesperson on July 2, He Weixin, vice chairperson of the National People's Congress Standing Committee, will represent China in attending the funeral of Iran's former Supreme Leader Ayatollah Khamenei on July 3 in Tehran.

On Thursday July 2, Europe's major stock indexes opened with mixed performance. Germany's DAX 30 fell 63.90 points (down 0.25%) to 25,005.21 points, the U.K. FTSE 100 declined 21.04 points (down 0.20%) to 10,457.30 points, and France's CAC 40 rose 9.97 points (up 0.12%) to 8,347.26 points. Europe's Stoxx 50 index dropped 13.05 points (down 0.21%) to 6,269.45 points.

According to the Russian Defense Ministry, Russia struck a key military facility in Kyiv today.

According to an official announcement on July 2, Binance will distribute Micron (MU) dividends to users holding MUB balances through bStocks. Cash dividends, after deducting applicable withholding taxes, fees, and other costs, will be reinvested as additional units or fractional shares of the same security. Eligible users will receive dividends in the form of MUB bStocks stock tokens. Users holding MUB on-chain will receive bStocks dividends through ratio adjustment. Users holding MUB at the sna