Gate Crypto Flash News and Market Updates

Alibaba reported on August 20 that net profit for the first quarter ended June 30 plunged 75% year-over-year to 10.54 billion yuan ($1.57 billion), far below the FactSet consensus estimate of 21.8 billion yuan. The company's ADR fell as much as 4% in pre-market trading, later paring losses to 3.1%. Revenue grew 9% to 268.95 billion yuan, slightly beating LSEG's forecast of 268.88 billion yuan. Capital expenditure surged 75% to 67.7 billion yuan ($10 billion), driven by CPU computing capacity exp

According to優分析, Target reported Q2 revenue of $26.539 billion, up 5.3% year-over-year, and adjusted earnings per share of $4.11, both exceeding market expectations on August 20. Comparable store sales increased 3.8%, driven primarily by a 3.6% rise in customer traffic, while average transaction value remained flat. The company raised full-year revenue growth guidance to approximately 5%. Target has reduced prices on over 10,000 items to regain shopper traffic, yet consumers remain cautious on s

According to Yuanalyze, on August 20, Analog Devices (ADI-US) reported third-quarter revenue of $4.02 billion, up 11% sequentially and 40% year-over-year, exceeding prior guidance and crossing $4 billion for the first time. Adjusted EPS reached $3.45, up 68% annually. The company guided fourth-quarter revenue to $4.3 billion with adjusted EPS of $3.86. Following the results, Seaport Global upgraded ADI from neutral to buy with a $425 price target. Growth is driven by new demand rather than custo

According to PANews, on August 20, Huobi HTX research analyst YT recommended focusing on dominant enterprises that control key bottlenecks and pricing power in the AI sector, rather than chasing second and third-tier companies capitalizing on AI hype. YT advised evaluating AI leaders based on three dimensions: market share, profit quality, and growth certainty. YT also emphasized that effective trading requires understanding specific assets and tools, with risk management taking priority over pr

According to Odaily Meme Speed Tracker, Eason deployed the first token under Binance Agent OS on BSC on August 20, with a current market cap of $530,000. Community member Eason noted on the same day that he had just tested and issued the first token. Grok clarified that Eason set up a relay contract enabling Binance Agent OS Agentic Wallet to issue tokens on flap.sh, which was used for this initial test.

According to CryptoQuant analyst Darkfost, Bitcoin is currently testing the Active Supply Cost Basis level, approximately $70,400. Active Supply refers to all BTC that have been transferred at least once within the past seven years, providing a more accurate view of current market holding costs by excluding long-dormant coins. The realized price for this indicator stands at around $70,400. Bitcoin last successfully held above this level in early April before breaking below in early June as selle

According to Odaily, during pre-market trading on August 20, SK Hynix released its roadmap for next-generation AI infrastructure, setting a clear technical target: extending optical interconnects to memory interfaces through a 'photonics-centric' architecture that directly connects storage and processors. Separately, the U.S. 30-year Treasury yield rose 6 basis points to 5.26%, retracing gains following the U.S. Treasury repurchase announcement.

According to Citrini analyst jukan, SK Hynix outlined a chiplet platform (CPO) technology roadmap that extends optical interconnects to memory infrastructure. The approach combines low-latency local HBM placed near GPUs with fiber-connected access to a larger shared memory pool, enabling rack-level scaling while addressing the data bandwidth bottleneck in AI clusters. The concept remains in early stages and aims to strengthen customer relationships through custom system-level memory architecture

According to Odaily, Bitdeer's AI division signed a five-year service agreement expected to generate approximately $400 million in revenue from its Malaysia data center. The customer has secured roughly half of the 9.5MW liquid cooling facility A102, with revenue expected to begin in Q1 2027. Bitdeer's AI cloud business has over $2 billion in reserved orders (approximately 24.5MW capacity) and targets expanding its AI data center capacity to 350MW by Q1 2028.

According to Jin10, Micron Technology announced the launch of Micron Research Labs, with plans to invest $10 billion over the next 10 years.

Bitdeer's AI unit signed a five-year service contract on August 20, expected to generate approximately $400 million in revenue from its Malaysian data center. The customer has secured roughly half of the 9.5MW liquid-cooled facility A102, with revenue projected to be recognized starting in Q1 2027. The company's AI cloud business maintains over $20 billion in backlog orders across 24.5MW capacity, with a strategic target to expand AI data center capacity to 350MW by Q1 2028.

Market sources report that U.S. Trade Representative Grrl and Canada's chief trade negotiator are scheduled to meet in Washington today at 12:15 p.m. ET (12:15 a.m. Beijing time on August 21).

SK Haikel reached a preliminary labor agreement today, granting employees a 6.3% wage increase with 60% of performance bonuses converted to stock issuance. In premarket trading, storage chip stocks broadly rallied, with SK Haikel up 5%, while WTI crude oil rose 3% and Bitcoin reached $70,000.

According to UHY Hacker Young, HMRC sent approximately 81,000 warning letters to UK cryptocurrency investors in the tax year ended April 5, 2026, representing a 25 percent increase from 64,982 letters in the prior year and nearly triple the 27,700 sent in 2023-2024. The letters are compliance notifications, not tax assessments, and recipients have not been automatically found to have evaded tax. The escalation signals HMRC's expanding crypto compliance campaign ahead of the Cryptoasset Reporting

According to BlockBeats, Federal Reserve Governor Austan Daly stated on August 20 that artificial intelligence investment is unlikely to drive overall inflation higher.

According to Rapid7, the cybersecurity firm disclosed Operation Asterix, a large-scale phishing campaign targeting approximately 885,000 phone numbers across multiple countries, with 5,576 phone numbers matched to Binance user accounts and queued for attack. Attackers impersonate Ledger, Trezor, and Exodus to steal seed phrases via fake applications, while using fraudulent customer service emails and phone calls to contact victims. In Germany, Rapid7 identified 316,000 phone numbers with a 13.6%

According to Wu Blockchain, a cryptocurrency user lost 1,010 ETH within 12 hours after clicking an old bookmarked link to Tornado Cash that had been compromised by attackers. The attackers registered the expired official domain tornado.cash following Tornado Cash's failure to renew it during OFAC sanctions, then built a fraudulent frontend to harvest deposit credentials from users. The same attackers have reportedly stolen nearly 4,000 ETH through similar phishing schemes linked to this domain o

According to Kitco News citing World Gold Council research, Indian gold jewelry demand strengthened in July as consumers responded to lower and more stable prices ahead of the festive season. International gold prices rose 9% in early August to $4,391 per ounce, while domestic prices gained nearly 7% to INR151,744 per 10 grams, according to WGC Research Head Kavita Chacko. Gold imports rebounded significantly, with import value reaching $4.16 billion in July, more than double June's $1.97 billio

According to U.S. media reports, President Trump announced yesterday (August 19) that the United States would take "severe economic action" against Iran, describing it as an unprecedented scale "economic war and economic isolation." On the same day, the UAE announced it would suspend all trade, commercial, and financial transactions with Iran. U.S. media noted the administration has shifted strategy amid U.S.-Iran stalemate, attempting to use economic pressure to force Iran's submission; however

San Francisco Federal Reserve President Mary Daly, a 2027 FOMC voter, said on August 20 that no evidence currently exists to justify preemptive rate increases. Rising bond yields do not signal a policy shift, Daly stated.