Gate Crypto Flash News and Market Updates

Based on market data as of Beijing time 03:00 on July 7, the onshore Chinese yuan (CNY) closed at 6.7942 per U.S. dollar, down 18 pips from Monday night's close. Trading volume reached 512.73 billion U.S. dollars.

According to the U.S. Treasury Department's Foreign Assets Control Office, the United States rescinded a general license authorizing Iran oil sales on July 7, with wind-down transactions permitted until July 17 at midnight Eastern Time. International oil prices rose in response. Anonymous U.S. officials stated that preliminary indications show Iran fired on three commercial vessels in the Strait of Hormuz recently, calling the action "completely unacceptable" and warning of consequences. Despite

SpaceX joined the Nasdaq-100 following the end of its IPO quiet period, forcing index-tracking funds to add exposure to Elon Musk's company. SPCX traded at $151.74, down 5.41%, after climbing from its $135 IPO price to a high of $225. Wall Street analysts issued wide-ranging price targets, with Raymond James at $800, Citi suggesting a possible $900 long-term valuation, and Morgan Stanley at $300. Average analyst targets stood at $278, ranging from $200 to $900, as investors weighed growth opport

Spot silver fell 4.0% intraday on July 7 to $59.51 per ounce, while Brent crude oil rose 6.0% to $76.34 per barrel. The oil price surge followed a new tanker attack in the Strait of Hormuz. In response, the U.S. Treasury Department revoked a sanctions waiver that had allowed Iranian oil sales, reversing a key provision of a previous interim peace agreement with Tehran.

Iran's Foreign Ministry spokesperson rejected Qatar's allegations that Iran attacked a vessel linked to the nation, calling the claims questionable and inconsistent with principles of friendly neighborly relations.

Following SpaceX's blockbuster IPO, MoffettNathanson initiated coverage on Tuesday with a neutral rating and $131 price target, implying approximately 18% downside from Monday's close of $160.42. The firm stated that no conventional valuation model supports SpaceX's roughly $2 trillion market capitalization and questioned several long-term growth assumptions, including a $30 trillion total addressable market estimate and orbital compute deployment targets. In contrast, Deutsche Bank, Bank of Ame

Spot gold fell 1.5% intraday to $4,100.45 per ounce on July 7.

According to Jin10, on July 8, Brent crude oil surged 5% intraday to $75.67 per barrel. WTI crude oil rose 5% to trade above $72 per barrel. Spot gold declined 1.54%, approaching the $4,100 per ounce level.

Spot silver declined 3% to $60.16 per ounce intraday on July 7, while spot gold dropped $50 to $4,112.65 per ounce, down 1.24% for the day.

According to Bitcoin Magazine, Tether is launching USDT on the Bitcoin network via the RGB protocol as early as July 2026, in partnership with software firm Utexo. The Bitcoin-based USDT will support instant swaps with BTC via the Lightning Network, with Tether Wallet and several exchanges planning to support the new asset. This marks USDT's return to the Bitcoin network, where it was originally launched via Omni-Mastercoin in 2014.

According to a media statement, AEREDIUM joined the Lava Tokenization Sandbox in July 2026 to test multi-chain real estate settlement models using Alba Bay, a large master-planned development in the Dominican Republic, as a real-world testing environment. The initiative, led by the Lava Foundation and Bretagne Holding Limited, focuses on payment-agnostic atomic settlement infrastructure that enables buyers to pay with bank transfers, cards, stablecoins, or digital assets across multiple blockcha

On July 7, the U.S. 10-year Treasury yield reached a four-week high, climbing 5.4 basis points to 4.533% in the latest trading.

According to Reuters and the U.S. Department of Treasury, the United States revoked general licenses for Iranian crude oil, petrochemicals, and petroleum products on July 8. The revocation will gradually terminate authorization for production, delivery, and sales of these materials originally issued on June 21, 2026.

WTI crude oil futures rose 4.00% intraday on July 7, reaching $71.30 per barrel.

According to Bloomberg, Microsoft began replacing OpenAI and Anthropic artificial intelligence models with its proprietary "MAI" models on Tuesday, deploying the in-house systems to Excel, Outlook, and GitHub Copilot. The internal models are already handling tens of thousands of user requests weekly across the productivity applications. The shift aims to reduce multi-billion-dollar dependency on external AI vendors and improve profit margins by circumventing licensing and API fees. Microsoft sha

The U.S. Treasury Department has recently released revised Iran general licenses, signaling that the United States is lifting sanctions against Iran.

BlackRock is launching the iShares Nasdaq 100 ETF under the ticker IQQ, expected to begin trading on Thursday (July 9) with an initial net asset value of $24 per share. The fund tracks the Nasdaq-100 index, which comprises the 100 largest non-financial companies listed on the Nasdaq exchange and has drawn sustained investor inflows driven by concentrated demand for large-cap technology and AI-linked stocks. IQQ directly competes with Invesco's QQQ Trust Series 1 and Nasdaq 100 ETF, which have NA

Radar Chat, developed by the Cake Wallet team, launched on Tuesday, combining end-to-end encrypted messaging with self-custodial Bitcoin payments via the Lightning Network, according to founder Vikrant Sharma. Available on iOS and Android, the app uses Signal's open-source protocol to enable users to send encrypted messages and Bitcoin simultaneously within private conversations without switching between chat and wallet apps. Users retain control of their private keys, with recovery options incl

According to The Block, ZEC climbed 12% on Tuesday as Zcash developers neared a mathematical proof that the network's privacy system does not contain an undetectable counterfeiting bug. Project Tachyon outlined details of its verification effort for Zcash's upcoming Ironwood shielded pool, with founder Zooko Wilcox noting the project is "on the verge of producing a mathematical proof that there are no undetectable counterfeiting bugs in the latest Zcash shielded pools." The announcement helped l

Saudi Arabia's Foreign Ministry condemned an attack on a Saudi oil tanker and called for Iran to immediately cease all actions threatening international maritime navigation and global energy security.