Gate Crypto Flash News and Market Updates

According to Vietnamese media An Ninh Tien Te, Vietnam's Ministry of Public Security on July 29 proposed expanding the scope of electronic identification under its draft Electronic Identification and Authentication Law to include digital assets, data, applications, and other resources. The draft specifies that identification objects would encompass not only institutions, organizations, and individuals, but also physical entities such as products and devices, as well as digital resources includin

According to its earnings announcement on July 29, SK Hynix posted record quarterly revenue of 79.3 trillion won in the second quarter, up 256.8% year-over-year, with operating profit reaching 60.5 trillion won, up 557.2%. The operating margin hit 76%, while net profit stood at 93.9 trillion won. However, revenue and operating profit each fell short of market expectations by around 5%, with analysts having forecast revenue of 83.5 trillion won and operating profit of 63.6 trillion won. For the f

According to the People's Bank of China, today (July 29) the central bank conducted 206.5 billion yuan in 7-day reverse repo operations at 1.40% interest rate, with both bids and successful auctions totaling the full amount. Additionally, the central bank operated 60 billion yuan in overnight reverse repo.

According to The Block, Ionic Digital, a bitcoin mining and AI infrastructure company, surged 25% in its Nasdaq listing debut today, with shares approaching $63 and an implied valuation of approximately $2.75 billion. The company currently holds 2,861 BTC.

According to BlockBeats, on July 29, South Korea's benchmark KOSPI index (Korea Composite Stock Price Index) declined 1% intraday after opening higher, according to Bitget market data. SK Hynix stock deepened losses to 4.5%, while Samsung Electronics narrowed gains to below 1%.

According to Lorenzo Valente, ARK Invest's crypto research director, cryptocurrency application revenues are becoming increasingly concentrated, with Hyperliquid and Pump.fun together accounting for 67% of total application revenue, and the top three platforms including Ethena reaching nearly 80%, as shared on X on July 29. Valente noted the crypto industry is undergoing its most significant consolidation phase in history, with revenue concentration hitting record highs across applications, midd

According to Project Tachyon, on Tuesday, Zcash researchers completed formal verification of Ironwood, publishing a machine-checked proof that the network's new shielded pool does not contain undetectable counterfeiting bugs under its stated cryptographic assumptions. The proof, written in the Lean programming language, comprises over 2,700 theorems and was completed by three teams of researchers and cryptographers over the course of more than a month. The work establishes balance integrity, ens

According to Iran's state television on July 29, a military intelligence official denied any connection between Iran and strikes on targets within Saudi Arabia. The official stated that attributing such actions to Iran "represents a serious misunderstanding and stems from a lack of awareness regarding regional circumstances," according to Xinhua News Agency.

According to Yonhap Infomax, citing Hyundai Securities analyst Kim Jae-seung, South Korea's KOSPI index fell more than 10% on July 29 amid concerns over China's semiconductor rise and a sharp sell-off in U.S. chip stocks including Nvidia. Market recovery prospects now depend on the Federal Reserve's monetary policy decision scheduled for early July 30.

According to BlockBeats, on July 29, South Korea's presidential policy office suggested a comprehensive review of the capital market structure, stating that leverage exchange-traded funds are not the sole driver of KOSPI volatility. Policy office director Kim Yong-beom attributed market weakness to multiple factors: high concentration of semiconductor and AI-related stocks (40-50% of the market), significant holdings of derivatives and ETFs, and intensifying competition from China's semiconducto

The Chinese yuan appreciated against the U.S. dollar today, with the midpoint rate climbing 29 basis points to 6.7899, marking the strongest level since February 10, 2023, according to the China Foreign Exchange Trade System.

On July 29, China's interbank foreign exchange market set the USD/CNY midpoint rate at 6.7899, down 29 pips, reflecting yuan appreciation. EUR/CNY rose 56 pips to 7.7175, while GBP/CNY fell 89 pips to 9.0052. AUD/CNY declined 111 pips to 4.7269, and JPY/CNY (per 100 yen) dropped 34 pips to 4.1393. CNY/RUB gained 892 pips to 11.6107.

According to Bitget data, South Korea's KOSPI index and SK Hynix reversed course today, with the index erasing earlier gains of over 3% to turn negative, while SK Hynix declined 3.2%.

According to the Bank of Korea's report submitted to Parliament on July 29, KOSPI rose 60.3% year-to-date, outperforming major markets including Taiwan, Japan, the U.S., and Europe. The central bank expects the domestic stock market to remain sensitive to external factors such as AI investment trends and major economies' monetary policy shifts, though strong corporate fundamentals are expected to limit downside pressure. The Volatility Index for KOSPI (V-KOSPI) averaged 85.3 this month, surpassi

According to Yonhap Infomax's survey of eight financial institutions on July 29, South Korea's July exports are projected to reach $97.83 billion, up 61.11% year-over-year and marking the second consecutive month above $90 billion. The forecast reflects sustained strong semiconductor demand driven by expanding AI investments and rising chip prices. Semiconductor exports alone are expected to contribute significantly to the growth, with the first 20 days of July already recording $54.9 billion in

Former Alibaba Vice President and Lepton AI founder Jia Yangqing announced the launch of Intent Lab, a new company introducing an autonomous agent team called Fleet. The product converts user natural language requests directly into production-ready software systems.

According to Vitalik Buterin's technical article published July 29, Diamond iO program obfuscation advances from "theoretically impossible" to "feasible in theory." The new protocol modifies the BGG+14 attribute encryption scheme by nesting fully homomorphic encryption (FHE) within attribute-based encryption (ABE), drastically reducing runtime compared to conservative approaches. However, Vitalik noted Diamond iO relies on new cryptographic assumptions—all-product LWE and evasive LWE—whose secur

According to Caixin on July 29, virtual currency and P2P investments represent the only potentially recoverable assets among losses sustained by six creditors in the debt case of boxer Zou Shiming and his wife. Real estate, luxury goods, gym renovations, and other ventures have become irreversible sunk costs, but virtual currency holdings may allow for recovery if platforms remain operational or wallet addresses remain traceable. Beijing prosecutors previously recovered over 89 million yuan in i

According to the China Federation of Logistics and Purchasing, China's total social logistics value in the first half of 2026 reached 181.1 trillion yuan, growing 5.1% year-over-year on July 29. This growth rate exceeded GDP growth by 0.4 percentage points. By quarter, the first and second quarters expanded 6.2% and 4.4%, respectively, demonstrating steady demand and structural optimization in logistics activity.

According to BlockBeats, Coursera announced on July 29 a $100 million strategic equity investment in LearnVector, an AI-native learning company founded by co-founder Andrew Ng. The investment grants Coursera approximately one-third ownership, valuing LearnVector at roughly $300 million. LearnVector aims to deliver personalized, one-on-one learning experiences for white-collar professionals using AI agents, replacing traditional one-to-many instruction. The company's first courses are expected to