Gate Crypto Flash News and Market Updates

According to Foresight News, crypto trading app fomo launched a creator rewards feature today. The feature allows users to earn without requiring additional actions, according to co-founder Paul. Further details will be disclosed later.

According to Reuters on August 23, South Korea's KOSPI index has fallen 30% from its June 19 peak, as euphoria driven by AI enthusiasm and leveraged retail trading swiftly reversed into pessimism. The downturn highlighted risks in a deregulation push designed to address the "Korea discount." After regulators approved single-stock leveraged ETFs in May, requiring only one hour of training and a minimum deposit of 10 million Korean won, retail investors aggressively borrowed to chase AI-related st

According to Coinglass data, the Crypto Fear & Greed Index currently stands at 67, down 3 points from yesterday. The index's 7-day average is 55, while its 30-day average is 34.

On August 21 (Friday), more than 190,000 crypto traders were liquidated in the past 24 hours, with total liquidation losses reaching $1.575 billion, according to liquidation data. Short positions accounted for approximately $1.27 billion of the liquidations, while long positions represented about $310 million. U.S. stock markets closed higher on Friday, with the Dow Jones Industrial Average rising 517.80 points, or 0.98%, to 53,277.01. The S&P 500 and Nasdaq Composite each gained 0.43%. Bitcoin

According to New York Post, on August 23, U.S. Democratic Rep. Rashida Tlaib's financial disclosure revealed she holds up to $15,000 in Grayscale Ethereum ETF and up to $15,000 in Bitcoin ETF within her approximately $1.2 million retirement account. Tlaib previously voted against the CLARITY Act, which aims to support the crypto industry.

According to London Metal Exchange data, three-month copper futures prices reached $14,215.50 per ton on August 21, climbing 3.08% this month and approaching January's record high of $14,527.50 per ton. The surge stems from structural supply-demand imbalances driven by rapidly growing copper consumption in AI data centers, power infrastructure, and defense sectors. Supply constraints are widening as Chile's Lundin Mining cut its 2026 copper production guidance following severe winter storms in t

According to BlockBeats, on August 23, TradingBeats monitoring showed that 「Maji」 trader's long position reached $160 million with an unrealized loss of approximately $276,000 and cumulative funding fees of roughly $247,400. The position consists of 1,225 BTC (worth approximately $94.05 million, entry price $77,660, unrealized loss $1.08 million), 19,000 ETH (worth approximately $45.68 million, entry price $2,337.48, unrealized gain $1.27 million), and 256,500 HYPE (worth approximately $19.93 mi

According to Jin10, on August 22, Canadian Prime Minister Justin Trudeau announced that Canada will implement retaliatory tariffs equivalent to U.S. duties on $20 billion in Canadian goods, effective September 8. The move comes in response to the U.S. imposing 50% tariffs on the same value of Canadian products. Ontario Premier Doug Ford, British Columbia Premier David Eby, and Quebec Premier François Legault voiced support for the retaliation. Ford called for Canadian provinces to unite as a "Te

According to Bloomberg, QTS Realty Trust issued $3.9 billion in investment-grade bonds this week to fund data center construction for Microsoft-related projects, with a coupon yield of approximately 7.23%, exceeding typical yields offered by some mid-tier junk-rated debt. The offering reflects growing investor appetite for AI infrastructure assets amid rising data center development demand. Separately, BlackRock issued similarly rated bonds in July for its Texas data center project at a 7.53% yi

According to Korea Exchange data, as of August 20, exchange-traded notes (ETNs) issued by South Korean brokerages saw assets grow only 5% year-to-date, significantly lagging exchange-traded funds (ETFs) which surged roughly 30% in the same period. ETN holdings reached 19.89 trillion won compared to 18.95 trillion won at end-January, while the number of ETN products increased 15% from around 320 to 370 offerings. Despite record profits at major brokerages this year, ETN underperformance remains a

According to ChainCatcher, ECX will launch its mainnet on October 31 at Bitcoin block height 973,728, distributing ECX tokens on a 1:1 basis to most Bitcoin holders. Users controlling private keys through self-custodial wallets will receive corresponding assets directly at snapshot time; exchange users will need to wait for platform decisions on fork support. The project is driven by Paul Sztorc, founder of Layertwo Labs and developer of Drivechains and BIP-300/301. ECX will roll out in three ph

According to South Korea's exchange and Yonhapnews, seven of eight companies newly listed from July through August 21 saw share prices fall below their IPO prices as the market entered an adjustment phase in the third quarter.

According to Yonhapinfomax, the USD/KRW exchange rate fell to 1,386.20 on Aug 22, marking its lowest level since September 2025. Exporter selling and weak U.S. dollar flows drove the decline. Market focus this week turns to the Bank of Korea's monetary policy meeting on Aug 27, where 11 of 21 surveyed financial institutions expect the base rate to hold at 2.75%, while 10 expect a 25 basis point increase to 3.00%. Federal Reserve Chair Kevin Warsh's Jackson Hole speech on Aug 28 may also influenc

According to Yonhap Infomax, South Korea's monetary policy committee will make its August interest rate decision on August 27, with market expectations sharply divided. A survey of 21 domestic and foreign financial institutions found 11 respondents expect the benchmark rate to hold at 2.75% annually, while 10 anticipate a 25-basis-point increase to 3.00%. South Korea's 10-year government bond yield rose to 4.370% over the week, while 30-year yields touched a low of 4.659%. The dot plot accompany

According to analyst Dan Ives in a CNBC interview, the AI memory market faces a severe supply shortage, with the supply-demand ratio reaching approximately 15:1. Ives stated that major corporations, including Apple, must now pay higher costs for memory chips as demand and prices rise simultaneously. Memory ETF (DRAM-US) and Micron Technology (MU-US) have seen strong investor interest in recent months. Ives believes this trend will persist, adding that Nvidia's Q2 earnings report on August 26 cou

According to the Daily Telegraph, Iran-linked hackers launched unprecedented cyberattacks in July, forcing a UK power plant to shut down for four days. The same period saw attacks on water infrastructure across 12 U.S. states, drawing White House attention. The affected UK facility is relatively small; the government declined to disclose which plant was targeted, citing security concerns. The U.S. water systems affected remain under investigation.

According to OpenRouter, on August 20, the company launched an anonymous new model codenamed Ox Alpha designed for coding, long-context agent tasks, and production use. The model features a context window of approximately 1.048 million tokens and supports text, image, and video inputs, with free access during preview. Independent researcher Ben Davis tested Ox Alpha on 10 subtasks from the DeepSWE software engineering benchmark, achieving an 80% pass rate, outperforming Claude Fable 5 (65%), GLM

Circle issued approximately $7.5 billion USDC and redeemed about $6.7 billion in the seven days through August 20, resulting in a net increase of approximately $8 billion in circulating USDC. Total USDC in circulation reached $72.7 billion with reserves of approximately $72.9 billion, comprising overnight reverse repurchase agreements ($48.1 billion), short-term Treasury bills under 3 months ($12.7 billion), deposits at systemically important financial institutions ($11.4 billion), and other ban

According to Goldman Sachs on Aug 23, AI trading entered a deleveraging phase similar to July's market selloff. The bank's high-beta momentum portfolio declined 12% for the week, while its AI hedge portfolio fell 10% over five days. Despite leverage levels in AI stocks retreating from extremes, momentum-driven indiscriminate buying persists. Goldman identified data centers and storage as offering the greatest tactical opportunity, with significant valuation gaps where earnings recovery remains u

According to reports, Nvidia has reached a $6 billion agreement with Poolside to develop open-weight AI models. Open-weight models enable lower-cost AI deployment, greater customization, and enhanced enterprise control.