Gate Crypto Flash News and Market Updates

T-Mobile US Inc. (TMUS), Comcast Corp. (CMCSA), and Joby Aviation Inc. (JOBY) stocks fell to annual lows on Friday following telecom sector developments and analyst caution. TMUS plunged 13% to $147.90, its steepest single-day decline in history, after SpaceX's Starlink formally entered the telecom market and announced spectrum in the 800 MHz band. CMCSA dropped 2% to $20.48 amid the broader telecom selloff triggered by Starlink competition concerns. JOBY declined 5% to $5.23 after Barclays down

According to Yonhap Infomax, South Korea's KOSPI index fell below the 6,500 level and KOSDAQ dropped over 4% on October 12, with major semiconductor and blue-chip stocks declining sharply. The selloff was attributed to multiple domestic factors rather than global shocks: concerns over Chinese chipmaker CXMT's planned launch of advanced server DDR5 chips, disappointing revenue figures from OpenAI weighing on AI-related stocks, rising memory chip prices potentially dampening IT product demand, for

According to CNBC, TikTok CEO Shou Zi Chew expects artificial intelligence to drive major scientific breakthroughs within the next two to three years on Monday at the DBS Asia Future Forward Conference in Singapore. Chew said AI will transform physics, biotech, chemistry, and material science, noting "it's very, very, very possible." He emphasized that while AI's short-term impact may be overstated, its longer-term potential remains underestimated. Chew cautioned that AI's growing capabilities w

In early trading on October 12, China's Shenzhen Component Index and ChiNext Index each fell over 1%, while major banks including Bank of China and Industrial and Commercial Bank of China reached new highs. Hong Kong's Hang Seng Index rose 0.2% in midday trading, though the Hang Seng Tech Index declined 0.6%, with Xiaomi and Huahong Semiconductor dropping over 4% each.

According to Coinglass data, the crypto Fear and Greed Index stands at 68 today, up 8 points from yesterday and entering greed territory. The 7-day average is 65, while the 30-day average is 67.

According to Seoul bond market data, South Korea's 10-year benchmark government bond yields fell sharply to 4.323% on October 12, down 8.9 basis points from the previous day's mid-market rate. The 3-year yields declined 5.5bp to 3.942%, while 30-year yields fell 4.0bp to 4.417%. Foreign investors drove the market, with net purchases of 17,696 contracts in 3-year bond futures and 8,819 contracts in 10-year futures. U.S. Treasury yields also retreated during South Korea's market holiday, with the

According to Yonhapinfomax, on October 12, the USD/KRW exchange rate hit a 2-year low of 1,333.20 won during morning trading, driven by strong export performance and dollar selling pressure. The currency briefly reached 1,333.20 won at 9:56 a.m., marking its lowest level since October 4, 2024. Exports for October 1–10 surged to $26.1 billion, up 102% year-over-year, according to Korea's Customs Service, supporting won strength. Market thinness amid U.S. and Japan holiday closures exacerbated vol

According to Jin10, domestic gold jewelry prices rose approximately 15 yuan per gram on October 12 compared to last Friday. Multiple brands' pure gold (99.9%) jewelry are trading in the 1,266 to 1,270 yuan per gram range.

According to Mysteel, global iron ore shipments totaled 30.88 million tons in the week of October 5-11, declining 3.99 million tons from the previous week. Australia and Brazil combined accounted for 25.02 million tons, down 2.91 million tons. Meanwhile, 13 Chinese steelmakers flagged weakening demand and recommended accelerating production cuts. Delon Steel chairman Ding Liguo stated that iron ore demand weakness is expected to persist, urging companies to boost output reductions. Goldman Sachs

According to Bloomberg (Oct 1), Tsinghua-backed AI infrastructure company Wuwen Xinchan completed a 2.3 billion yuan Series C round, bringing cumulative funding to 4.3 billion yuan. The company, founded in 2023, integrates software across Huawei Ascend, Nvidia, and AMD chips to deliver large language model training and inference services. Bloomberg reported that Wuwen has filed confidentially for Hong Kong listing, with earliest listing possible in H1 2027 at an estimated pre-IPO valuation of ap

According to the Central Political-Legal Committee, recently the Chinese government issued guidance on strengthening law enforcement against food safety violations. The document directs government agencies to strictly crack down on illegal activities that endanger food safety and protect consumers.

According to strategy chief Charlie Bilello, Micron's net income for the fourth quarter ended September 30 reached $37.7 billion, exceeding Apple's $29.8 billion in the same period by approximately $8 billion. The memory shortage has shifted pricing power to chip suppliers, with Micron unable to meet customer demand. As Bilello stated: "Apple needs chips. Micron has chips. Micron sets the price." The supply imbalance has pressured Apple's gross margins, which declined to 48.1% in the June quarte

According to BlockBeats, on October 12, global bond market selloff pushed implied rate hike expectations across eight major economies down 178 basis points to 539 basis points from September's 717 basis points peak. Long-term bond yields rose, with the U.S. 10-year Treasury term premium climbing to approximately 0.98%, the highest since 2014, reflecting increased compensation demands from investors and signaling market-driven tightening even as central banks hold policy rates steady. The rise st

According to BlockBeats citing TradingBeats, NEAR perpetual futures on Hyperliquid reached a new yearly high of $5.959 on October 12, with the price currently trading around $5.862, up 10.66% in 24 hours. Trader mk4 holds approximately 5.765 million NEAR with an average entry price of $2.353, generating unrealized gains of about $20.2 million at a 1491% return rate. The position is valued at approximately $33.74 million and remains the sole long position in the account.

According to Yonhapinfomax, on October 12, Bank of Korea Governor Shin Hyun-song emphasized the need to preemptively control core inflation during a parliamentary audit, noting that core inflation remains significantly above the central bank's target. Shin cited rapid nominal GDP growth of 26.4% year-over-year as a factor that would ultimately translate into demand-side price pressures, necessitating proactive inflation management. While acknowledging that recent price increases were partly driv

At the opening of the 26th China International Industrial Expo, Yuansu Technology founder Wang Xingxing shared that the recent release of GPT-6 has significantly influenced perceptions in the embodied AI sector. The company deployed the model to robots for task testing, with promising results. Wang believes the industry's inflection point will arrive relatively quickly, potentially within one to two years.

According to Financial Times, Polish Foreign Minister Radoslaw Sikorski warned on October 12 that NATO members should prepare stronger responses to potential Russian hybrid attacks that could result in deaths. As Moscow expands sabotage and disruption operations across Europe, Sikorski stated the likelihood of casualties is rising. He noted that Poland and Estonia previously invoked NATO's Article 4 mechanism—requiring high-level consultations—following Russian drone and aircraft airspace violat

According to CEO Elon Musk, Tesla and SpaceX aim to design and test about 10 chip designs per year at Terafab's Giga Texas research fab, significantly accelerating what he describes as a typical two-year cycle for one major chip design to reach volume production. Musk said the companies want to challenge risk aversion in chipmaking through faster iteration. The research fab would integrate chip fabrication, testing, packaging and mask production in one facility, allowing teams to test designs, c

According to ChainCatcher, Taiwan Semiconductor Manufacturing Company (TSMC) will release quarterly earnings on October 15, with analysts expecting earnings per share of $4.42 and net profit growth of 65% to NT$746.3 billion. The market will focus on the company's outlook for AI chip demand and order forecasts.

According to Solana's official announcement, Pando Solana ETF (2831.HK) is set to list on the Hong Kong Stock Exchange on October 13, marking Hong Kong's second spot Solana ETF. The protocol noted that global spot SOL ETFs currently have net assets of $1.9 billion, with cumulative net inflows reaching $1.61 billion.