Gate Crypto Flash News and Market Updates

According to ING analyst Chris Turner on July 2, the euro is expected to extend its recent decline against the U.S. dollar over the coming weeks before recovering later this year. Turner cited anticipated U.S. rate hikes as the dominant theme for summer 2026, noting that if markets price in 50 basis points of U.S. increases, the euro could test below 1.1300. However, based on current expectations that the Federal Reserve will not raise rates, Turner projected the euro will return to the 1.16–1.1

Recently, Harvard University astronomer Avi Loeb was appointed chief of the White House UFO committee to research UFO challenges to U.S. national security. Loeb, the university's former astronomy department chair, previously sparked academic controversy by supporting the theory that extraterrestrials have visited Earth. Some astrophysicists have criticized the appointment as unconventional, questioning whether the administration's UFO research initiative is primarily for publicity.

According to Binance announcement on July 2, Binance Futures launched 8 USDT-margined TradFi perpetual contracts: STRCUSDT, CATUSDT, TXNUSDT, FLEXUSDT, TERUSDT, TTWOUSDT, KSTRUSDT, and BSPUSDT. All contracts support up to 25x leverage and 24/7 trading. The perpetuals are settled in USDT with funding rates calculated every 8 hours.

According to BlockBeats, on July 2, Michael Burry expanded his short positions in the AI sector, with targets including Tesla, Applied Materials, Caterpillar, and semiconductor ETF SOXX. Burry described South Korea's recent announcement of a major chip industry cluster investment plan as the "beginning of the end" for the AI boom, questioning whether escalating capital expenditures will generate corresponding returns. Burry maintained his bearish stance on Nvidia through put options on SOXX and

According to Bloomberg, as of July 1, Iran's offshore crude oil and condensate inventory exceeded 58 million barrels, with over 90% remaining unsold. Buyers have adopted a cautious stance due to unresolved Western sanctions, unclear payment mechanisms, and weak Asian demand. Multiple tankers are on standby, with some planning ship-to-ship transfers near Singapore. India's state-owned refineries have secured crude supplies through August and await clearer guidance from the U.S. on dollar payment

Taiwan's Economic Minister Kung Ming-hsin announced on July 2 that the Geological and Mining Center plans to visit California and Colorado in October to survey rare earth mineral sources and attend local seminars. According to Kung, if the mineral sources meet industry requirements after assessment, the Industrial Technology Research Institute will establish a rare earth refining production line with American partners. Taiwan aims to meet half of its rare earth demand domestically by 2030, when

According to UBS report published on July 1, the bank views Meta's potential sale of AI compute power or model access to external customers as a positive signal rather than evidence of AI infrastructure oversupply. UBS maintained its Buy rating on Meta with a 12-month price target of $865, seeing the strategy as a way to accelerate revenue generation from the company's large AI investments. The bank projects Meta's diluted GAAP EPS at approximately $32.6 for 2026 and $33.0 for 2027, noting that

Gate News message, prediction markets volume on major platforms experienced explosive growth in June. Trading volume increased from $65 million on June 1st to $5.4 billion by June 29th, with a peak of $5.6 billion recorded on June 22nd. Kalshi led this surge in trading activity, demonstrating sports events as drivers for prediction trading demand.

According to BlockBeats, the U.S. will release the June nonfarm employment report at 8:30 p.m. Beijing time on July 2. Markets expect 110,000 nonfarm jobs were added in June, down from 172,000 in May, while the unemployment rate is forecast to remain at 4.3% and average hourly earnings are expected to rise 0.3% month-over-month.

According to Cointelegraph, Sei released the Giga white paper V2 on July 2, bringing upgrades including sub-250 millisecond finality, pre-execution privacy, protocol-level MEV resistance, and transaction throughput exceeding 200,000 per second.

According to Cointelegraph, Sei has released Giga Whitepaper V2, detailing upgrades designed to achieve finality in under 250 milliseconds, process over 200,000 transactions per second, and introduce pre-execution privacy protection alongside protocol-level MEV resistance.

In U.S. premarket trading on July 2, technology stocks extended their earlier decline. Micron Technology fell nearly 3%, Intel dropped over 2%, and Corning declined 3.68%.

According to Jin10 Futures, the CFETS-NEX overall money market sentiment index for the Chinese yuan held steady at 45 as of 4 p.m. on July 2. Large banks, mid-size banks, and non-bank institutions reported sentiment indices of 44, 47, and 44 respectively, all unchanged from the 2:30 p.m. reading.

According to Guru Club, on July 2, Nvidia announced a new AI infrastructure collaboration model with cloud service providers. Under the framework, cloud operators will deploy AI factories based on Nvidia's DSX AI Factory architecture and share revenue with Nvidia tied to compute usage. The initiative aims to help startups, model developers, enterprises and research institutions access AI computing power more quickly.

According to Binance, the platform's Alpha section has listed DATA Network (DATAIP) on July 2.

According to the German Engineering Federation (VDMA), German engineering sector orders declined 1% year-over-year in May 2026. Domestic orders fell 3%, while foreign orders rose 1% during the same period.

According to the German Machine Tool Builders' Association (VDMA), German engineering sector orders rose 10% year-over-year from March to May, with domestic orders up 3% and foreign orders up 13%.

Italy's unemployment rate fell to 5% in May, beating the expected 5.1% and down from 5.1% in April.

According to Singapore's Economic Development Board (EDB), light distillate oil inventories fell by 665,000 barrels for the week ending July 1, dropping to a two-week low of 12.7 million barrels.

According to Singapore Economic Development Board (ESG), as of the week ending July 1, Singapore fuel oil inventories declined by 648,000 barrels to 19.654 million barrels, marking a two-week low.