Gate Crypto Flash News and Market Updates

According to Mitsubishi UFJ strategist Derek Halpenny, on August 24, the US dollar faces downside risk ahead of Treasury Secretary Bessent's remarks and Federal Reserve Chair Waller's Jackson Hole speech scheduled for Friday. Waller may provide limited signals on future policy, and if credible fiscal consolidation measures remain absent, the longer end of the bond market could face particular pressure, Halpenny said.

According to ChainCatcher, PDD Holdings (Nasdaq: PDD) posted revenue of 112.4 billion yuan (approximately 16.6 billion USD) for the second quarter ended June 30, 2026, up 8% year-over-year. Transaction service revenue reached 54.7 billion yuan, growing 13% YoY, while online marketing services and other revenue totaled 57.6 billion yuan. Operating profit was 27.8 billion yuan, up 8% YoY. However, net income attributable to ordinary shareholders declined 12% to 27.2 billion yuan. Non-GAAP net inco

According to Ray Dalio, founder of Bridgewater Associates, the U.S. faces a potential debt crisis in approximately 3 years if current fiscal policies remain unchanged, as he outlined on August 21 in a LinkedIn post titled "How Countries Go Broke: The Dynamics Behind What's Happening Now." Dalio projected a 2 trillion dollar federal deficit this year against total federal revenues of 5.5 trillion dollars, with annual debt service estimated at 1 trillion dollars. Combined with 10 trillion dollars

According to the European Securities and Markets Authority (ESMA), Germany added six cooperative banks to its roster of licensed crypto-asset service providers on Friday, expanding its lead in the European Union's Markets in Crypto-Assets Regulation (MiCA). The latest ESMA register update brings the total number of authorized CASPs to 331. Germany now accounts for 79 CASPs, ahead of France with 35 and the Netherlands with 29. The country's total has grown from 57 in late June, according to ESMA

Pinduoduo shares fell nearly 5% in U.S. premarket trading after the company reported second-quarter revenue below expectations. XPeng Motors shares dropped over 6% on the same news, with the automaker also missing Q2 revenue forecasts.

According to PANews, the China Payment Clearing Association released the Autonomous Agent Payment Application Self-Discipline Covenant on August 24, setting standards for banks and payment institutions deploying AI models in payment scenarios. The covenant requires adherence to "who provides service is responsible" principles and mandates implementation of Know Your Agent (KYA) mechanisms, tiered AI agent management, and full-chain identity verification. Enhanced controls on transaction traceabi

Jiang Zhuoer, founder of BTC.com, published a historical cycle comparison chart on August 24, suggesting Bitcoin's recent low of $57,800 may represent the major bottom of the current cycle. Aligning four historical bull market peaks, Zhuoer argued that the decline duration and magnitude align with previous cycles and that sideways consolidation will reignite fear-of-missing-out sentiment, making substantial further declines unlikely. For positioning, Zhuoer outlined a clear tactical plan: if Bit

Iranian Deputy Foreign Minister Garibabadi criticized U.S. Treasury Secretary Bessent on Aug 24 over contradictory statements regarding Iran policy. In a social media post, Garibabadi stated: "Mr. Bessent, your statements are contradictory." He pointed out that if the U.S. had already dismantled Iran's military capabilities, destroyed nearly all Iranian military factories, and buried Iran's nuclear program, why would the U.S. still need to launch what it claims is the "largest-scale financial of

According to PANews, on August 24, Shanghai added 1 newly registered generative AI service, with the model named Qianwen Task Assistant. The city has cumulatively completed registration of 188 generative AI services.

Alibaba Cloud's Wan 3.0 video generation model launched on Scenario platform today, enabling generation of videos up to 30 seconds with native synchronized audio. The model supports multi-modal inputs including images, video, audio, documents, and URLs, with API access available through Model Studio and Qwen Cloud.

According to BlockBeats, citing Alternative data, the Crypto Fear and Greed Index reached 73 on August 24, up from 66 the previous day. The current reading marks the second-highest single-day level in the past year, approaching market sentiment levels seen prior to the November 2024 downturn. The index previously peaked at 74 on October 5, 2025.

According to Herald Economics, Korean investors net-sold NVIDIA stock equivalent to approximately 3 trillion won ahead of the company's earnings release on August 27. The selling reflects heightened concerns over elevated valuation expectations and U.S. 10-year Treasury yields holding around 4.7%, which weigh on AI stocks amid massive data center investment requirements.

Moody's upgraded Pakistan's credit rating to B3 from CAA1 as of August 24, according to the rating agency's official announcement.

According to Morgan Stanley strategist Michael Wilson, oil prices surging represents the biggest risk to U.S. stocks today, with the analyst recommending investors hedge portfolio exposure through energy stocks. Wilson stated that further oil price increases could push yields higher and ultimately force Federal Reserve action, as Fed officials seek to bring inflation back to target levels. He noted that additional responsibility would shift from the fiscal side to the Federal Reserve if oil rall

According to Bloomberg, gold climbed to $4,620 on Aug. 23, its highest price since May, after the U.S. Treasury announced on Aug. 19 that it would double its long-term bond buyback operations through November 4. The Treasury's expanded buyback program, aimed at stabilizing the bond market following a 30-year yield spike to 5.337%, weighed on the dollar; the dollar index sank to 98.723, its lowest level since mid-May. Analysts including ING's Chris Turner attributed the dollar weakness to the buy

According to on-chain detective Specter, reported by ChainCatcher, over $40 million in cryptocurrency was stolen last week across 3 independent security incidents, with each victim suffering losses exceeding $10 million.

According to Beating AI, Cursor has launched Origin, a GitHub competitor, and Shopify CEO Tobi Lütke has open-sourced its underlying Git architecture as walgit. Lütke replicated Cursor's Continuity architecture, which stores repository data in S3 cloud storage while treating local Git servers as cache, using a write-ahead log (WAL) and copy-on-write semantics (CAS) to eliminate the need for fixed master nodes and complex replication. The walgit implementation is a Rust-based program compatible w

Pinduoduo (NASDAQ: PDD) stock rallied over 3% in pre-market trading today after initially declining nearly 5% earlier in the session.

According to Morningstar data, Direxion Daily Semiconductor Bull 3X Shares attracted nearly $7 billion in net inflows during July and early August, despite the fund plunging 70% from its peak as the underlying semiconductor index fell only 20 percent. The product provides 3x leveraged exposure to the NYSE Semiconductor Index covering 30 U.S. chipmakers. In South Korea, over 1.2 million retail margin accounts received forced liquidation notices in mid-July alone, according to Goldman Sachs. Singl

According to Burry's Substack comments on August 24, the investor called Lululemon Athletica stock 'screaming cheap' and disclosed he has nearly doubled his position, which now accounts for 17.4% of his holdings, up from 9%. Burry compared Apple shares to Costco stock, describing them as 'permacostly.' Lululemon shares have fallen over 40% year-to-date amid ongoing pressure in its U.S. business. In the first quarter of 2026, the company's Americas comparable sales declined 5%, and it cut its ful