Gate Crypto Flash News and Market Updates

Five Hong Kong-listed companies debuted today (July 8), with mixed first-day performance. Visual AI firm Rewatech (HKEX: 7656) closed down 3.05% at HK$21, significantly below its HK$21.66 offer price, after falling as low as HK$15.6. The company raised net proceeds of HK$529 million with public offering oversubscription of 3,645 times. Autonomous driving developer Momenta (HKEX: 6880) closed flat at HK$295.6 offer price, raising HK$5.656 billion with oversubscription of 412.63 times, the largest

According to the Korea Exchange, on July 8, Hanwha Aerospace, Hanwha Systems, and Hanwha Aerospace USA collectively expanded their combined stake in Korea Aerospace Industries (KAI) to 12.44%, acquiring approximately 97.475 million shares. The Hanwha group has invested approximately 499.87 billion Korean won to date for the stake expansion. Hanwha Aerospace stated that the acquisition aims to influence management control over KAI.

Soybean cooking oil produced by Taiwan's Zhonglian Oil & Fats Company tested positive for dangerously high levels of benzo(a)pyrene (BaP), a known carcinogen, with approximately 1,300 tons of contaminated oil shipped starting in April. As of July 8, authorities confirmed 401 food products on the recall list, affecting 18 domestic products and 360 downstream businesses including food manufacturers, restaurants, and schools.

According to the SEC's 2026 regulatory agenda, the U.S. Securities and Exchange Commission plans to propose sweeping crypto rule changes this month, marking the agency's first major crypto-specific rulemaking push under Chair Paul Atkins. The most closely watched proposal, "Regulation Crypto," is scheduled for July and currently under White House review. The framework is expected to cover crypto startups, token issuers, exchanges, alternative trading systems and broker-dealers. The rule would es

According to Foresight News, Ethereum Institutional, a non-profit organization established on July 1, has announced it is recruiting to build its core team. The nonprofit, positioned as an institutional-grade entry point for the Ethereum ecosystem, will focus its hiring efforts in the coming weeks on institutional market development (GTM), marketing and community engagement, and solutions architecture and technical leadership roles across major financial hubs.

According to The Block, Nigel Farage, leader of the UK's Reform Party, announced recently that he will resign as an MP and seek re-election following confirmation that Parliament will launch an investigation into donations related to cryptocurrencies. Farage stated that the investigation involves donations from Christopher Harborne and George Cottrell, and denied any wrongdoing.

Spain's Prime Minister's Office stated that it views recent U.S. trade measures as a matter of "business as usual" and will not alter relations with the United States. The office emphasized that Spain and the U.S. maintain strong social, cultural, and economic ties that the country does not intend to change.

According to the Financial Services Commission, South Korean securities firms have strengthened their internal control systems over the past year to shift from post-incident penalties to pre-emptive safeguards. The measures include restricting employee stock trading and extending monitoring to family accounts, marking a response to accelerated regulatory enforcement against market manipulation and insider trading.

U.S. storage stocks declined in premarket trading today (July 8). SanDisk shares fell 7%, Micron Technology dropped 6%, Western Digital declined over 4%, and Seagate Technology fell nearly 4%.

Spot gold continued its decline on July 8, sliding to $4,070 per ounce with an intraday drop of 0.89%.

WTI crude oil and Brent crude oil both rose 5.5% today, trading at $74.33 per barrel and $78.25 per barrel, respectively.

According to Gazprom, the Krasnodar pump station supplying the Blue Stream pipeline came under drone attack, the company said in a recent statement. Blue Stream is a key gas pipeline connecting Russia to Turkey.

The Dutch AEX index fell 0.35% today after U.S. President Donald Trump stated that the ceasefire with Iran has ended. The market decline reflects investor concern over escalating geopolitical tensions in the region.

According to Russian state-owned Gazprom, Ukraine recently attacked infrastructure used to export natural gas to Turkey. The company did not provide additional details regarding the target facility or extent of damage.

According to the Intercontinental Exchange (ICE), UK wholesale electricity prices rose 5.55% in recent trading, reaching 110.75 pence per therm.

According to Coinglass data cited by ChainCatcher, $391 million in crypto futures positions were liquidated in the past 24 hours on July 8, with long liquidations accounting for $287 million and short liquidations $104 million. The liquidations affected 131,611 traders, with the largest single position of $7.2448 million occurring on Binance's ETHUSDT pair.

According to CryptoQuant analyst Axel Adler Jr., stablecoin market inflows have fallen from a $3.2 billion monthly average to $2.65 billion since mid-May, representing a 31% decline below the annual average of $3.86 billion. Combined USDT and USDC market value is shrinking by over $3 billion monthly, shifting stablecoins from a liquidity source to a liquidity sink.

Onshore Chinese yuan closed at 6.7993 against the U.S. dollar on July 8 (Beijing time 16:30), down 37 points from the previous trading day's official close and 51 points from the prior evening's close.

Vanguard is hiring a head of digital assets, signaling a strategic reconsideration for the $12 trillion asset manager after years of maintaining one of Wall Street's most cautious stances on crypto. The role, posted by Vanguard's Personal Wealth division, calls for an executive to lead digital asset strategy, roadmap and enterprise execution, including oversight of tokenization, stablecoins, wallets, custody models and regulatory frameworks. The hiring is significant given Vanguard's historical

According to financial data provider F&Guide, South Korea's National Pension Service saw domestic stock valuations increase by 189.5 trillion won in Q2 2026, based on June 6 figures, representing a 63.9% return over the three-month period from end-March. The gains were driven primarily by Samsung Electronics and SK Hynix, which together contributed 151.3 trillion won, or 79.8% of the total increase. SK Hynix valuations rose 82.1 trillion won to 125.3 trillion won (a 190.3% gain), while Samsung E