Gate Crypto Flash News and Market Updates

Hanwha Ocean acknowledged on July 7 its failure to win Canada's next-generation submarine program (CPSP) and committed to finding viable alternatives in global markets. The South Korean defense contractor stated in an official statement that despite strong government support, superior submarine performance, and successful navy operational experience, the company was unable to overcome "NATO alliance barriers." The company said it will analyze lessons from the competition and identify new opportu

According to FactSet data released overnight, S&P 500 companies' second-quarter earnings-per-share (EPS) forecasts rose 3.4% to $81.54 from $78.84 three months ago—the largest quarterly increase since 2021. Separately, Foxconn (Hon Hai Precision) reported a 40% surge in Q2 revenue driven by sustained AI demand, signaling continued strength in the semiconductor equipment sector. Wall Street analysts are now watching Samsung Electronics' preliminary Q2 earnings closely as a potential inflection po

Samsung Electronics reported second-quarter operating profit of 89.4 trillion won, exceeding the expected 84.2 trillion won. The company also posted second-quarter sales of 171 trillion won, beating the consensus forecast of 169.23 trillion won.

According to Bloomberg, renowned investor Michael Burry recently announced a short position on Micron (MU-US) via Substack, arguing that the memory chip maker typifies cyclical industries and warning that the AI memory super-cycle may be unwinding. Micron's forward P/E has plummeted from 11x in late June to 7x as of last week, despite management providing five-year customer contracts and securing long-term revenue visibility. The memory chip industry faces mounting supply pressures. South Korea'

According to Korean Economy TV, the U.S. stock market's three major indices all rose overnight on July 5, with technology and communication service sectors posting the largest gains. Among major tech stocks, Nvidia, Amazon, and Tesla advanced, while Microsoft showed more muted performance due to recent workforce reduction announcements.

According to ZhitongCaijing, on July 7, the Hang Seng Index warrant street货 ratio stood at 51:49. Among bear warrants, the 24,000-24,099 price band saw the largest new additions with 306 new contracts, reaching 512 total. Bull warrant accumulation was concentrated in the 23,000-23,099 band, which added 345 contracts to reach 493 total.

According to Zhitong Finance, Hang Seng Index ADR rose 0.22% on Monday (July 7), closing at 23,667.36 points. Among major blue-chip stocks, HSBC Holdings advanced 1.9% to 154.881 Hong Kong dollars, while Tencent Holdings gained 0.17% to 452.769 Hong Kong dollars.

According to Smart Finance App, Hang Seng Index futures (July) closed at 23,571 points on July 7, up 26 points or 0.11%, trading at a 45-point discount. Open interest totaled 127,609 contracts, up 1,485; net open interest stood at 50,532 contracts, up 5,128.

Blackrock's IBIT recorded $772.6 million in net outflows for the week ended July 4, continuing its streak of redemptions. Spot bitcoin ETFs posted $527 million in total net outflows, marking their eighth consecutive week of declines. Ether ETFs saw $13.67 million in outflows for the week, also their eighth straight weekly loss. XRP ETFs showed relative strength with $17.19 million in inflows, while Solana and HYPE ETFs added $5.75 million and $4.32 million respectively, indicating selective dema

According to Yonhapinfomax, on July 6, the U.S. dollar weakened in New York trading amid euro strength. The dollar index (DXY) fell to 100.864, down 0.016 points, while the euro-dollar rate rose to 1.14414 dollars, up 0.093%. Dollar-yen rose 162.054 yen, up 0.576%. ECB Executive Board member Isabel Schnabel's hawkish comments on eurozone inflation drove the euro's rally. L&G Asia investment strategy head Ben Bennett noted that the yen's weakness stems from Japan's accommodative fiscal policy and

According to Yonhapinfomax, SK Hynix began its American Depository Receipt (ADR) offering roadshow targeting overseas institutional investors on July 6, with the company set to start trading on Nasdaq on July 10 under the ticker symbol SKHY. The deal, with an estimated reference amount of approximately 43.1 trillion Korean won (around $28 billion), would rank among the largest offerings by a foreign company on U.S. exchanges. The company revised its ADR reference total from 45.45 trillion won to

According to Goldman Sachs' latest report, artificial intelligence investment is shifting from infrastructure buildout to broader real-economy applications. From 2026 to 2031, global AI capital expenditure on computing, data centers, and power infrastructure is projected to reach approximately $7.6 trillion, with annual spending rising from $765 billion in 2026 to $1.64 trillion in 2031. Hyperscale cloud providers' AI investments are expected to surpass $6 trillion by 2030. The bank notes that f

In June 2026, the Magnificent 7 U.S. tech giants—Microsoft, Nvidia, Alphabet, Apple, Meta, Tesla, and Amazon—significantly underperformed broader market gains. The combined market capitalization of these seven stocks fell approximately $2 trillion during the month, with the equally-weighted Roundhill Magnificent 7 ETF declining 9%, marking the second-largest monthly drop since its launch in 2023. Market analysts attribute the underperformance to a structural shift in these companies' capital all

SPDR Gold Trust, the world's largest gold ETF, increased its holdings by 1.427 tons compared to the previous day, bringing total assets to 1,002.793 tons.

According to Grayscale, Strategy sold 3,588 bitcoin worth approximately $216 million on Monday as part of its recently introduced bitcoin monetization program. The company's current cash reserves stand at about $2.55 billion, sufficient to cover roughly 17 months of preferred dividend and interest obligations. Grayscale's head of research, Zach Pandl, said the recent sales should restore market confidence in Strategy's financing structure and help bitcoin find a more durable price bottom. Pandl

According to MarketWatch, chip stocks rallied on Monday, July 7, with storage makers Western Digital (WDC-US) gaining over 7% and Seagate Technology (STX-US) rising 5%. Memory chipmaker Micron Technology (MU-US) advanced 1% intraday, touching a 4% gain during the session. The rebound comes as investors anticipate earnings announcements and product developments from major memory manufacturers this week. Samsung Electronics is set to release second-quarter preliminary results on Tuesday, with repo

Gwynne Shotwell, SpaceX president and COO, announced on Monday, July 6 that she will donate a portion of SpaceX stock held by her and her husband to support the Trump Accounts initiative, a U.S. investment program for children under 18. The donation, valued at approximately $320 million, is expected to benefit around 2 million Trump Accounts, with priority given to children residing in Central Texas near the couple's home. Shotwell posted on X platform, stating the donation aims to encourage the

According to Kitco NewsWire, spot gold and silver prices slipped in early U.S. trading on Monday (July 7), with gold trading near $4,139.80 an ounce, down 0.82%, and silver at $61.66, down 0.98%, as a firmer U.S. dollar and easing geopolitical risk in the Middle East offset support from softer labor data. The market repricing follows June's weaker-than-expected payroll figures, which have pushed near-term Federal Reserve rate hike expectations lower. The dollar recovered modestly, with the DXY i

According to ChainCatcher, tokenized sovereign debt startup M1X Global completed a $5.5 million seed funding round led by Paradigm, with Breed VC and other investors participating. The company's flagship product, USDM1, is a tokenized sovereign debt instrument issued natively on-chain by the Marshall Islands, backed 1:1 by U.S. Treasury securities. Originally launched on Stellar, USDM1 is now available on Canton and Solana networks. M1X aims to establish USDM1 as on-chain sovereign collateral an