Gate Crypto Flash News and Market Updates

According to Bloomberg, U.S. federal judge Alvin Hellerstein rejected the CFTC and Gemini's joint request today (October 16) to vacate a $5 million settlement agreement. The settlement stemmed from an enforcement action during the Biden administration in January 2025, which required Gemini to pay the penalty. The two parties had submitted the cancellation request in May, arguing the settlement violated principles of fair enforcement, with the CFTC citing internal findings of improper litigation

According to BlockBeats, Solana-based RWA lending protocol Spout Finance completed a $2 million strategic funding round on October 16. The round was led by investors including Draper Dragon, Anchorage, Flow Traders, Vessel Capital, Solayer, 2Square, and Bering Waters Group, with strategic support from Solana Labs. Spout Finance enables users to deposit tokenized U.S. equities as collateral and borrow stablecoins such as USDC without paying interest.

According to Investopedia, Deutsche Bank upgraded Walmart (WMT-US) to 'Buy' on Friday (October 15), raising the price target from $113 to $136. The stock rose 1.5% on the day, trading up to $119.

According to Bitget, on October 16, Hong Kong's Hang Seng Index rose 1.08% at today's opening, with the Hang Seng Tech Index gaining 1.59%. Among AI stocks, MINIMAX-W surged 6.01% and Zhipu climbed 3.89%.

Taiwan is investing $4 billion to establish an industrial park in the United States aimed at attracting suppliers to Nvidia and other major semiconductor companies. The facility is designed to support the localization of chip supply chains within the U.S.

As of 09:30 Beijing time on October 16, New York gold futures rose 0.03%, silver futures gained 0.28%, and copper futures climbed 0.38%.

On Thursday (October 15), Nvidia CEO Jensen Huang stated that customer demand for AI chips continues to significantly outpace the company's supply capacity. In an interview with the BG2 podcast, Huang revealed that new orders are arriving "almost every week, and even every day," with major cloud service providers, emerging AI cloud operators, and equipment manufacturers placing large orders. Customers are planning demand at least one year in advance, with the largest customers forecasting requir

According to Odaily citing MSX.COM, U.S. stock indices gained at market close on October 16. The Dow Jones rose 1.08%, the S&P 500 advanced 0.33%, and the Nasdaq gained 0.08%, while the VIX fear index fell 2.43%. AI-related stocks broadly gained, with SoundHound AI up 7.95%, The Trade Desk up 7.8%, EPAM up 6.66%, ServiceNow up 6.14%, and Atlassian up 6.09%.

According to Gate data, South Korea's KOSPI index gained 3.3% intraday to close at 5,737.91 points on October 16. Major component stocks including SK Hynix rose 2.22% and Samsung Electronics gained 1.79%.

According to Odaily, prosecutors stated that in the case involving former NBA guard Malik Beasley for allegedly manipulating personal game data for sports betting, 3 of the remaining 5 defendants have agreed to plead guilty, while 2 others have not yet accepted plea agreements. The case relates to conduct during Beasley's time with the Milwaukee Bucks. Beasley's attorney said he currently has no intention to plead guilty and is still reviewing evidence and possible defense arguments. Co-defendan

According to official announcement, SBI Holdings and Startale have joined Open Standard to explore interoperability between JPYSC and OUSD, aiming to enhance international liquidity of yen-denominated assets. SBI will work with Open Standard's global partner network to build a secure, trustworthy, and interoperable stablecoin ecosystem within applicable regulatory frameworks. JPYSC is a yen-denominated, trust-backed stablecoin issued by SBI Shinsei Trust Bank.

According to Odaily, Lightning Labs today introduced LayerTree, a non-custodial scaling solution for Bitcoin that integrates with the Lightning Network. The platform uses Covenants technology to allow a single UTXO to be shared by up to 1 million users, enabling offline fund reception and instant withdrawal via single transactions without time-lock expiration.

According to South Korea's Ministry of Economy and Finance, as of October 7, the RFI-K (Offshore Won-Handling Institution) system registration list included only 10 domestic bank overseas branches, with no foreign financial institutions registered. The registered institutions comprised Woori Bank (4 locations: Tokyo, Singapore, London, Beijing), Hana Bank (2: London, Singapore), Shinhan Bank (2: London, Singapore), and KB Bank (2: Singapore, London). Industry sources attributed slow foreign bank

According to Yahoo Finance, ING economist James Nuttall stated on October 16 that U.S. private-sector wage growth has stalled at just 3%, significantly below inflation rates. Nuttall noted that while rate hikes will have limited impact on energy and AI data center investments, moderating wage growth is the mechanism already cooling the economy as the Federal Reserve intends. Nuttall emphasized that wages represent the largest input cost for U.S. corporations. Though subdued wage growth pressures

According to Yonhapinfomax, the PLUS 200 Inverse 2X ETF, operated by Hanwha Asset Management, plummeted to 80 won during intraday trading today (October 16), a 57.45% drop from the previous close of 212 won and 62.43% below its net asset value (NAV) of 212.95 won. The anomalous trade involved 106,838 shares, resulting in an estimated loss of approximately 14.2 million won for sellers. The crash occurred during the market opening's extreme volatility, when limited liquidity provider (LP) quotes r

According to Bloomberg, meme coins reach their peak after an average of 17.2 days from first trading, while one-quarter top within 1.6 days. Only 3% of meme coin projects have returned to their all-time highs, with a median time of 370 days from peak to 95% decline, data showed on October 16. The market faces rapid influx of new tokens and quick pump-and-dump cycles, while competing attention from AI and prediction markets has cooled the speculative sector.

According to an official statement from China's Commerce Ministry, Vice Minister Ling Ji met with DHL Group CEO Matthias Matto on October 15. The two discussed DHL's development in China and cooperation on China-Germany and China-EU trade matters.

Cathie Wood's ARK Investment Management bought 168,633 Rocket Lab (RKLB) shares worth $9.32 million on Thursday (Oct 15), as the company highlighted its hardware's role in NASA's Perseverance rover reaching a record 28.1 miles on Mars on Oct 11. The purchases came despite RKLB stock sliding 7% Thursday and dropping for a seventh consecutive session. Rocket Lab also announced Neutron, its planned reusable medium-lift rocket, now targets an inaugural flight in 2027 rather than late 2026, citing ma

According to BlockBeats, Elon Musk announced today that Tesla will begin production of its Roadster sports car in 2028.

China's central bank conducted 60 billion yuan in 7-day reverse repo operations today at a rate of 1.40%, unchanged from the previous operation.