Gate Crypto Flash News and Market Updates

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.

According to TechCrunch, Nvidia announced on August 21 a partnership with Cloverleaf Infrastructure, with the chipmaker investing hundreds of millions of dollars in the data center development company. Cloverleaf, founded in 2024 and having raised $300 million that year, acts as an intermediary between utilities and data center operators, providing power and critical infrastructure for site development.

According to BlockBeats and CoinGlass data, Coinbase's Bitcoin premium index has remained in negative territory for 97 consecutive days from May 19 to August 23, extending the all-time record for longest negative premium streak, with the latest reading at -0.0266%. The previous record was 40 consecutive days from January 16 to February 24, which itself surpassed the roughly 30-day negative premium period during last year's market downturn.

According to Circle, USDC circulation increased by 800 million during the 7 days through August 20, as the company issued 7.5 billion USDC and redeemed 6.7 billion. Total USDC in circulation stands at 72.7 billion, backed by 72.9 billion dollars in reserves including 48.1 billion in overnight reverse repurchase agreements, 12.7 billion in Treasury bills maturing within three months, and 11.4 billion in deposits at systemically important institutions.

According to BlockBeats and HTX market data, Bitcoin broke below $77,000 on August 23, triggering a broad altcoin selloff. TAC led the decline with a 24-hour drop of 40.86% to $0.001672, while FHE fell 30.03% to $0.01978 and SQD declined 29.01% to $0.03. Other major altcoins also faced sharp losses, including PTB down 27.11%, INX down 26.43%, and BASED down 25.35% in the same 24-hour period.

According to Odaily, YOMOGI token on Solana is trending with a market cap of $1.41 million as of August 23, according to GMGN data. The surge follows social media activity from Eno, who disclosed on August 23 that YOMOGI may be connected to Yomogi, a cat recently adopted by Kabosu Mama, the owner of Kabosu, the Shiba Inu that inspired the Doge meme.

According to GMGN data, meme coin CATE plummeted over 40% on August 23, with its market cap reaching a low of approximately $40 million. The asset was trading around $50 million at the time of reporting.

According to Odaily Meme Speed Run monitor, YOMOGI token on BSC is gaining community traction today with a market cap of $410K on GMGN. The spike in interest follows a discovery by Eno on August 23 that the adoptive cat of Kabosu Mama—the owner of Kabosu, the original Doge dog—is named Yomogi, a detail Eno cited from a leaked publication.

According to predict.fun, Team Spirit's probability of defeating Team Yandex in the DOTA 2 International 2026 losers' bracket final stands at 83% on August 23. The best-of-three matchup began this morning, with Team Spirit capturing Game 1.

According to BlockBeats, on August 23, Zach Pandl, Grayscale's head of research, stated that Bitcoin's current price may offer a favorable entry point for investors with a long-term perspective. Analyzing structural adoption trends, market cycles, and macroeconomic factors, Grayscale noted that the ongoing bear market has lasted approximately 10 months, while previous cycles typically lasted 11 to 12 months, suggesting the market may be in late-stage bear conditions. Structural adoption, cycle p

According to Russia's TASS news agency, Iran's Ambassador to Russia Jalali said on August 23 that U.S. military personnel have low morale. He claimed that American troops face poor infrastructure, inadequate food supply, weak logistics support, and declining morale, with multiple casualties reported. Though the Pentagon has not confirmed these claims, Jalali stated that deteriorating equipment and personnel conditions are undeniable.

According to community developer Chetaslua reported by Beating AI, Ox Alpha's backend has been confirmed as Zhipu (Zhipu GLM). When sending a deliberately malformed API request, the model's Java stack trace revealed the path paas/v4/chat, directly matching Zhipu's official API endpoints. Zhipu-hosted GLM models consistently return the same error code 1214 (Incorrect role information), while the same GLM weights hosted on DeepInfra return a different error format. Additionally, tokenization finge

According to MarketWatch, U.S. long-term Treasury yields climbed to fresh highs on Thursday, with the 10-year yield rising to 4.69% and the 30-year yield breaking above 5%, despite the Treasury Department's announcement of expanded debt buyback operations earlier in the week. Brent crude oil surged past $93 per barrel on Thursday, fueling inflationary concerns and pushing yields higher. Analysts noted that oil prices, rather than market skepticism of the buyback program, were the primary driver

According to official announcement, Predict.fun launched losers bracket finals prediction markets for The Predict International Dota 2 event on August 23. As the tournament moves toward finals, the platform will open additional prediction markets with higher AP rewards per market. The total prize pool includes 100,000 USDT and 5,000,000 Predict Points.

According to researchers at South Korea's Insurance Research Institute, the sector should adopt financial contracting arrangements to diversify funding sources beyond insurance product sales, potentially unlocking investment capacity across diverse industries. The Institute's report released today (August 23) cited U.S. large life insurers' use of such contracts as a reference model. Outstanding securities issued by U.S. life insurers based on funding contracts grew more than threefold, from $87

According to the Financial Supervisory Service on August 23, South Korean domestic banks' net profit in the first half of 2026 fell to 13.8 trillion won, down 6.4% from 14.7 trillion won in the same period last year, a decline of approximately 900 billion won. While interest income expanded to 32.2 trillion won, up 8.3% year-over-year, the gain was offset by a significant drop in non-interest income to 2.9 trillion won, down 43.4% from 5.2 trillion won in H1 2025. The decline was driven by secur

According to a Korea Financial Research Institute report released on August 23, the proportion of South Korean non-financial listed companies unable to cover interest expenses from operating profits rose to 39.9% last year, up from 38.5% in 2024. Additionally, the number of companies showing signs of financial distress requiring structural adjustment increased to 437 from 391 the previous year. The institute's Senior Research Fellow Gu Jeong-han noted that potential restructuring candidates acro