Gate Crypto Flash News and Market Updates

According to box office reports, Minions & Monsters topped the North American box office with $62 million during the four-day July 4th holiday weekend (July 2–5). Toy Story 5 placed second, while Young Washington ranked third.

According to Wall Street Journal, several large U.S. banks including JPMorgan Chase and Bank of America are in early discussions with Fiserv about a payment network transaction that would allow acquiring institutions to circumvent debit card transaction fee caps.

According to KB Securities, analyst Lee Chang-min on July 7 initiated coverage of semiconductor equipment maker PSK with a buy rating and a 280,000 Korean won target price. The analyst expects PSK to benefit from global chipmakers' expanding capital expenditure (Capex) cycles across all applications and customer segments. KB Securities forecasts PSK's 2026 revenue will increase 48% year-over-year to 678.7 billion won, with operating profit surging 109% to 184.6 billion won and operating margin r

According to Goldman Sachs, the investment bank recently reaffirmed its buy rating on NVIDIA, noting that despite the chipmaker's significant gains over the past year, its current valuation remains attractive. Goldman Sachs forecasts NVIDIA's data center business revenue will exceed $120 billion this year, representing approximately 25% year-over-year growth. The bank pointed out that NVIDIA's price-to-earnings ratio has fallen to the lower-mid range of its three-year historical band, presenting

According to Bonk Inu's official X account, BonkDAO suffered a malicious governance proposal attack today that resulted in approximately $20 million worth of BONK tokens being stolen from the DAO treasury. The attacker used a suspicious governance proposal to transfer the assets, which subsequently flowed toward exchanges, putting downward pressure on BONK's price. The Block data shows BONK has declined over 9%. South Korean exchange Upbit announced it has temporarily suspended BONK deposits and

According to SemiAnalysis, rumors about Nvidia's next-generation Kyber NVL144 AI server facing advanced PCB manufacturing bottlenecks and potential delays beyond 12 months prompted heavy selling in Asian semiconductor stocks on July 6. Nvidia denied the allegations on Monday, stating its product roadmap remains intact, but market sentiment remained under pressure. Japanese PCB manufacturer Ibiden fell approximately 10%, Hong Kong-listed copper clad laminate maker Kingboard Laminates Holding plun

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 Business Insider, on July 6, major Wall Street investment banks including Morgan Stanley and Goldman Sachs recommended clients consider Magnificent 7 tech stocks trading at attractive valuations. The Roundhill Magnificent 7 ETF (MAGS), which holds equal-weight positions in the group, has remained essentially flat year-to-date, while the S&P 500 has gained double-digit percentage and semiconductor stocks have surged significantly. Morgan Stanley's Mike Wilson, chief U.S. equity strat

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