Gate Crypto Flash News and Market Updates

According to Jin10, South Korea's stock market trading volume collapsed by 70% from its May peak as the AI investment boom loses steam. Foreign investors are withdrawing rapidly, while domestic retail traders are also exiting positions. The downturn reflects the market's heavy dependence on Samsung Electronics and SK Hynix. Phillip Wool, portfolio manager at Rayliant Global Advisors, noted that most investors who entered the Korean market for semiconductor trades have already locked in gains, an

According to Michael Novogratz, founder and CEO of Galaxy Digital, artificial intelligence is "the biggest bubble of our lifetime," but the market rally remains intact. Speaking this week at the Greenwich Economic Forum in Connecticut, Novogratz stated that while the AI trading cycle is in bubble territory, it has not yet reached the dramatic collapse point typical of past bubbles. "Bubbles don't end the way we see them ending now," he said, adding that the current situation is "not dramatic eno

According to BlockBeats, AERO and VELODROME tokens surged on October 11, with AERO rising 17.29% to $0.9422 and VELODROME climbing 16.74% to $0.04087, as their upcoming merger draws near. Aerodrome and Velodrome will merge into a unified cross-chain DEX called Aero on October 21, expanding to Base, Ethereum, OP, Arc, Ink, Robinhood Chain, and Arbitrum. The AERO and VELO tokens will consolidate into a single AERO token, with 94.5% allocated to AERO holders and 5.5% to VELO holders.

According to Guru Club, Himalaya Capital founder Li Lu stated on October 11 at Columbia Business School's 36th Graham and Dodd Annual Lunch that the current AI wave differs fundamentally from previous technological revolutions. AI is transitioning from a productivity-enhancing 'tool' to a 'creator,' exhibiting human-like capabilities in language, reasoning, programming, and agent collaboration. Li Lu emphasized that recursive self-improvement (RSI) without human involvement is extremely dangerou

UN Secretary-General António Guterres condemned a deadly attack by Houthi forces on King Khalid International Airport in Riyadh. In his statement, Guterres stressed that attacks on Saudi Arabia's civilian infrastructure violate international law and must cease immediately.

According to Bloomberg, OpenAI and Anthropic employ significantly different revenue accounting methods, making direct comparisons difficult. Anthropic includes total sales generated through cloud service partners like Amazon in its revenue figures, while OpenAI only counts net revenue share received from partners such as Microsoft. Neither has disclosed standardized financial statements. Sourced documents show OpenAI's estimated actual 2026 revenue is approximately $35 billion, roughly half its

According to Lookonchain, a trader created a new wallet and opened a 3x leveraged long position on 24.42 million STRK (valued at $2.9 million) on Oct 10. The position has generated unrealized profits of $1.05 million as of now.

According to Wind data, thermal coal prices at Qinhuangdao Port hit 1,003 yuan/ton on October 10, marking the first time above the 1,000 yuan threshold since two years ago. The 5,500-kilocalorie coal from Shanxi province gained 42.27% year-over-year. The CCTD Northeast China thermal coal spot reference price for the same specification reached 999 yuan/ton on the day.

According to Onchain Lens data, a whale recently bought and withdrew a combined 26,070 ZEC worth $31.93 million from Binance and Kraken within minutes. The withdrawal included 17,770 ZEC from Binance and 8,300 ZEC from Kraken.

According to ChainCatcher citing Liquid247.xyz data, Ethereum is currently trading at $2,510.44. Binance spot exchange shows the thickest order book among major venues, with $8.22 million in buy orders against $6.04 million in sell orders—a $2.17 million buy-side advantage.

According to Coinglass, Hyperliquid whale positions currently total $8.655 billion with a long-to-short ratio of 0.86. Long positions account for $3.997 billion (46.18%) with unrealized gains of $353 million, while short positions total $4.658 billion (53.82%) with unrealized losses of $348 million.

On October 10, IELTS exams organized by the British Council were canceled nationwide due to technical failures. According to the official email sent to test-takers, the computer-based IELTS examination on October 10 was canceled, and exam fees will be fully refunded to NEEA accounts within one working day. The British Council's customer service center confirmed that the technical issue will also impact examinations on October 11 and 12. Candidates who took partial exams on October 10 will not re

According to MarketWatch, Elon Musk's net worth reached $1.02 trillion as of October 8, making him the world's first and only person to achieve trillionaire status. His wealth surged following recent gains in SpaceX and Tesla stock, both up 6% since October, with current valuations at $2.2 trillion and $1.5 trillion respectively. Musk holds 48.4% of SpaceX and 20% of Tesla. Musk's current wealth exceeds the combined fortune of the second through fourth richest people globally. When measured as a

On October 10, Elon Musk announced that Terrafab, a chip manufacturing joint venture between Tesla, SpaceX, and Intel, will produce chips superior to competitors. Speaking at Tesla's Gigafactory in Austin, Musk stated the team will find ways to make "better chips than anyone," leveraging customized equipment expertise. The facility in Grimes, Texas will have an initial investment exceeding $15 billion, create 3,000 jobs, and span 10 million square feet across 3,000 acres. Texas Enterprise Fund w

According to Jin10, on Saturday evening, President Trump appointed Katie Bailey as director of the White House Office of Legislative Affairs, replacing James Brady who departed in September. Bailey, who previously served as deputy director of the office since early summer, brings experience from her work with Republican senators and congressional committees. Trump praised her performance in advancing the confirmation of several key cabinet nominees and stated she has "achieved significant result

According to ChainCatcher, Filecoin's six-year vesting period is nearing completion, which will remove approximately 68 million FIL from annual token releases. Based on current mining rates, annualized new FIL supply from vesting and block rewards will decrease from roughly 89 million FIL to 21 million FIL. Storage providers will continue receiving rewards after the vesting period ends.

GRIN price plummeted 17.09% in the last hour to $0.010131, dropping from $0.01221998. The steep decline indicates significant selling pressure, with the asset also experiencing a 24-hour decline of 22.13%. The current market cap stands at $8,824.51, with 24-hour trading volume of $5,913.45, reflecting thin liquidity that may amplify price volatility.

According to ChainCatcher, USDT's smart contract on Ethereum has contained a destroyBlackFunds function since its 2017 deployment that permanently clears the balance of blacklisted addresses. The function, callable only by Tether's multisig owners on Ethereum and Tron, confirms an address is blacklisted, reads its balance, sets it to zero, deducts the amount from total supply, and records the event with no reversal mechanism available. The U.S. Department of Justice described this process in a M

According to securities analysts on October 11, Samsung SDI's small battery division is expected to achieve operating profit of 158 billion won in Q3, marking its first profitable quarter in two years. The overall company is projected to post Q3 operating profit of 239.1 billion won, swinging from a 591.3 billion won loss in the same period last year. The energy storage system (ESS) division drove growth, with sales expected to rise approximately 32% from Q2 as North American operations ramped u

According to TheStreet, Bank of America raised its price target on Marvell Technology (MRVL) to $400 following the chipmaker's October 6 Analyst Day, representing 47.5% upside from the reference price of $271.25. BofA also upgraded its 2028 and 2029 fiscal-year revenue estimates to $200.9 billion and $348.4 billion, respectively, driven by Marvell's product portfolio spanning networking, optical, storage, and custom computing positioned to capture AI infrastructure buildout opportunities. Marvel