Gate Crypto Flash News and Market Updates

Qatar's Emir Palace announced effective immediately that the nation will enter a four-day state mourning to pay respects to the late former Emir Hamad bin Khalifa Al Thani.

According to DefiLlama, Robinhood Chain posted DEX trading volume of $877.6 million in the past 24 hours on July 12, ranking second globally behind Solana's $1.133 billion.

According to CFTC data as of July 7, leveraged funds' yen net short position fell to -104,231 contracts, the largest reduction in nearly two years. The position decreased by 33,587 contracts from the prior week, signaling a potential weakening of speculative yen shorting bets. This week brings major U.S. economic data and Federal Reserve communications. The June CPI and PPI will be released on July 14, followed by Fed Chair Kevin Warsh's testimony to Congress on monetary policy. Market consensus

According to Defillama, Polymarket's weekly revenue exceeded $11 million on July 12, marking an all-time high. The protocol's cumulative revenue has surpassed $97 million.

According to ruling party lawmaker Lee So-young, on July 9, the PBR 0.8 times inheritance tax reform bill accelerated its path through South Korea's parliament. The bill, first proposed in May 2025, aims to prevent large shareholders from deliberately suppressing stock prices to reduce inheritance tax burdens. Under the current system, inheritance taxes are assessed based on the average stock price around the inheritance date, creating an incentive for major shareholders to keep prices low. The

According to Jin10 data and Qatar's Interior Ministry, Qatar intercepted incoming Iranian targets on July 12, with resulting shrapnel injuring three people, including a child. The injured received necessary medical treatment. Qatar's Defense Ministry confirmed the country came under Iranian missile attack on the same day. The Interior Ministry issued two security alerts earlier that day, warning of escalating threats, after which air defense systems' interceptions were heard producing explosions

According to Barron's, WD-40 (WDFC-US) surged nearly 11% on Friday, July 10, after the home and cleaning products manufacturer delivered strong third-quarter results. Q3 revenue climbed 24% year-over-year to $195.1 million, significantly outpacing analyst expectations of $172.8 million, while earnings per share reached $2.33 versus the Wall Street consensus of $1.56. The company also raised its full-year EPS guidance to $6.05–$6.35 from the prior range of $5.75–$6.15, above the market consensus

According to ChainCatcher, Hedera Network is reportedly suffering an attack, with perpetrators transferring over $3.7 million to Ethereum through a cross-chain bridge. The stolen funds were bridged from Hedera via LayerZero and are currently being swapped from WBTC to ETH, according to analyst Specter's monitoring.

According to Egypt's Central Bank, net foreign direct investment inflows for the July-March period of fiscal year 2025/26 reached $13 billion, compared with $9.8 billion in the same period of the previous year.

According to Egypt's Central Bank, tourism revenue for the 2025/26 fiscal year from July through March reached $14.4 billion, up from $12.5 billion in the same period the previous year.

According to Iran's Kerman province official, U.S. military struck a communications tower in southern Kerman's mountainous region early on July 12, injuring 2 people.

According to Fortune, multiple analysts on July 12 cited a four-year cycle, inflation pressure, and leverage liquidation as factors keeping Bitcoin in bear market territory. Bitwise Chief Investment Officer Matt Hougan noted the four-year cycle continues to influence investor sentiment, while Grayscale Research Director Zach Pandl attributed the downturn to macro factors, including U.S. inflation reaching 4.1% in June, above the Federal Reserve's 2% target. Market deleveraging is also weighing o

According to BlockBeats citing Token Terminal data, ETH bridged from Ethereum mainnet to Robinhood Chain over the past week increased roughly 10-fold, surpassing $100 million in total value. Robinhood Chain uses ETH as its native gas token.

According to Korea Exchange, South Korea's KOSPI index fell 24.7% from its peak of 9385 to 7063 today (July 12), marking its sharpest decline outside periods of global financial crises or major policy shifts. The correction severity is underscored by data showing 89% of KOSPI 200 component stocks have declined more than 30% from their 2026 highs. Analysts point to the U.S. June CPI report due July 14 as a key catalyst; if CPI meets or undershoots market expectations of 3.8% year-over-year, semic

India's Commerce Minister Piyush Goyal will lead a high-level trade delegation to Spain, Belgium, and Finland from July 13-17.

According to the Korean Exchange, as of July 12, nine out of ten KOSPI 200 constituent stocks have declined more than 30% from their year-to-date highs, indicating that South Korea's domestic market correction has reached a severity level exceeding previous major downturns. If U.S. consumer price index (CPI) data comes in line with market expectations or falls below, semiconductor, defense, power equipment, and shipbuilding sectors are expected to lead a potential market rebound.

According to Jin10, on July 12, Western Gold announced that its controlling shareholder, Xinjiang Nonferrous Metals Industry Group, plans to merge with Xinjiang Geology and Minerals Investment Group. The merger will not materially impact the company's operations, and the ultimate controlling shareholder will remain Xinjiang Uygur Autonomous Region State-owned Assets Supervision and Administration Commission. The merger requires approval from higher-level authorities and remains subject to uncert

LAB Trade's native token collapsed 90% to $1.25 within 48 hours, wiping out approximately $5 billion in market cap amid insider control and manipulation allegations. The sharp decline came as vesting unlocks were scheduled to begin later in July 2026, with multiple late-stage vesting changes having occurred prior to the crash.

According to ChainCatcher, a court in São Paulo, Brazil ordered Coinbase to return approximately $100,000 to a user whose funds disappeared from a self-custodial wallet in unauthorized transactions. Coinbase argued the wallet's private keys were fully controlled by the user, but failed to prove the transaction was initiated by the wallet holder or demonstrate security measures to prevent the outcome. The court ruled in favor of the user under Brazil's Consumer Protection Law, requiring Coinbase

According to Ukraine, the country sank 14 Russian vessels on Sunday, July 12. The specific details regarding the location and military branch involved in the operation were not immediately disclosed.