Gate Crypto Flash News and Market Updates

According to Guru Club, WTI crude oil futures fell 1% to $90.929 per barrel on October 12.

According to Nicola Willis, finance spokesperson for New Zealand's National Party, on Monday the party said now is not the time for tax cuts given the country's debt burden and budget deficit. The government's priority is to reduce debt and invest in healthcare and infrastructure. Willis noted that tax cuts would only be considered once the budget returns to surplus and the surplus expands, stating the focus must be on achieving fiscal surpluses and lowering debt levels.

WTI and Brent crude oil futures erased early gains and turned lower earlier today, now down 0.3% as sentiment shifted. The contracts had climbed roughly 1% during the initial session before the decline.

On October 12 morning (8 AM KST), cryptocurrencies showed mixed performance across Korean exchanges. CKB (Nervos) led gains, surging 40.74% on Bithumb to 2.757 won, while MAGIC (Magic) climbed 32.82% to 174 won on the same exchange. ZEUS Network rallied 53.42% on Coinone, and Sonic (S) jumped 50.67%. On the downside, US (Talos) plunged 34.48% to 17.48 won on Bithumb, while NEON EVM dropped 43.17% on Coinone.

According to Deutsche Bank, as of October 8, the bank downgraded U.S. tech stocks to neutral from buy, citing concerns about stretched valuations and fading momentum. Since July 29, tech stocks have outperformed the broader market by 18.1 percentage points over 52 trading days, approaching the median historical outperformance of 29.5 percentage points seen in prior rallies. The bank estimates tech stocks have only about 4 percentage points of upside remaining before reaching the long-term trend

According to President Trump, Russia has agreed to supply over 300,000 tons of diesel to the U.S. and global markets effective immediately as part of an energy ceasefire agreement in the Russia-Ukraine conflict. The supply will include 500,000 tons in November, followed by an additional 1 million tons thereafter, the statement indicated.

According to UBS strategist Théa Ziegler, London copper futures closed near historic highs on Friday at approximately $14,622 per ton. The report notes that electrification and data center expansion are expected to drive demand growth exceeding supply increases through the early 2030s. Copper supply deficits will be further compressed by ongoing Chilean mine strikes and depleted global inventory levels, creating structural price support despite near-term trade policy uncertainties.

According to the Institute for Fiscal Studies (IFS), reported by Jin10 on October 12, Chancellor John Healey must raise £35 billion to implement Labour government's spending plans. The London-based think tank warned that despite Healey potentially having more fiscal flexibility than expected, the government's spending agenda faces credibility challenges.

According to Slow Mist researcher Yu Xian, Ledger Flex has been included in associated security cases. The researcher noted that Ledger's mainstream series, beyond the well-known Ledger Nano X, may have been tampered with at distributor CryptoBills.

According to Zhitong Finance, China's 2026 Artificial Intelligence Industry Conference will be held from October 14-16 in Jinan, Shandong province, organized by the China Academy of Information and Communications Technology, Shandong's Industrial and Information Technology Department, and Jinan Municipal Government. The event aims to showcase opportunities in AI application and infrastructure sectors. Huawei will debut its Ascend 960 supernode with peak cluster computing power of 8 EFLOPS (FP8),

According to Yonhapinfomax, on October 12, South Korea's Financial Services Commission approved Shin Young Securities' change in major shareholder status at Korean Reinsurance Company, despite the company's failure to obtain prior approval as required by the Financial Company Governance Act. Shin Young Securities holds 10.48 million shares (10.48%) in Korean Reinsurance and had submitted for retroactive approval in April after the company's treasury stock cancellation increased its stake above t

According to People's Daily, China and the European Union held the second meeting of their trade and investment consultation mechanism in Beijing on October 8-9. Both sides acknowledged the meeting as a new starting point rather than an endpoint, signaling that despite existing differences, China and the EU have the wisdom and capacity to find constructive solutions by upholding mutual respect and equal benefit principles while addressing each other's legitimate concerns.

According to security firm Veria Labs, an AI system discovered an overflow vulnerability in the XRP ledger's underlying code that could enable the issuance of up to 18 trillion additional tokens. Separately, Cointelegraph reported that the Tampered Ledger device compromise has expanded from Asia into Europe, affecting hardware wallet users across the continent.

According to Korea Investment Securities on October 12, the brokerage maintained its buy rating and 520,000 won ($400 USD equivalent) target price on South Korean cosmetics exporter APR, citing strong beauty product sales that partially offset currency headwinds. The company's shares closed at 371,500 won on October 8, implying approximately 40% upside potential. APR achieved record-high rankings in Amazon's beauty category across major markets following the Amazon Prime Big Deal Days on October

According to People's Daily on October 12, China reaffirmed its commitment to dialogue and mutually beneficial cooperation with Europe. The official statement emphasized that despite differences, both sides have the wisdom and ability to resolve issues through negotiation. China expressed willingness to work with Europe to manage friction through consultations, explore new cooperation opportunities, and maintain global supply chain stability in accordance with World Trade Organization rules.

According to Zhitong Finance, on October 10, 2026, China's A-share earnings season officially entered its key disclosure window after Huahua Pharmaceuticals released its third-quarter results. The company reported Q3 net profit of 250.88 million yuan, up 29.87% year-over-year, with nine-month net profit of 926.55 million yuan, up 44.78%. Multiple institutional research reports, including East Wu Securities and China International Capital Corporation (CICC), identified three primary investment th

According to reports, Broadcom is pursuing $50 billion in funding for AI semiconductor-related operations, while SpaceX is negotiating approximately $40 billion in financing to purchase Nvidia AI chips. SpaceX's funding structure includes $30 billion in corporate bonds and $10 billion in bank loans, with involvement from Apollo Global Management and potential participation from asset manager PIMCO. The shift reflects AI investment demands extending beyond internal cash flows. According to Financ

According to Coinbase CEO Brian Armstrong, the company fine-tuned the open-source Qwen3.5-9B model on its proprietary fraud detection data on October 12, achieving superior performance to frontier models with lower costs and faster speed. The model's F1 score improved by 9.6% while end-to-end latency decreased by 55%, according to Coinbase's technical blog. Armstrong noted that Coinbase is enabling internal employees to easily fine-tune models, with some backend services potentially replaced by

According to Axios, on October 11, Trump announced a potential "energy ceasefire" agreement between Russia and Ukraine, proposing both sides halt attacks on oil refineries. A White House official described the deal as a "refinery-for-refinery" arrangement but acknowledged a stark imbalance: Ukraine operates only one oil refinery, which has been repeatedly targeted and cannot function fully, while Russia maintains an extensive refinery network. A White House official warned that Ukrainian strikes

According to Politico, on Sunday, a bipartisan group of U.S. senators called on President Trump to "immediately reverse course" and rescind the decision to allow Russian diesel imports. The senators accused the administration of violating federal law enacted in 2022, which banned Russian energy imports. In their statement, they noted that Trump's decision "directly violates" the congressionally mandated prohibition and that the administration failed to consult Congress or provide justification a