Gate Crypto Flash News and Market Updates

LAB token, the native asset of multi-chain trading platform LAB Trade, plummeted 80% to $1.25 on Wednesday, erasing nearly $5 billion in market capitalization in just 48 hours. The token fell from above $17 on Tuesday to under $1.25, with the project's market cap collapsing from over $5 billion to $390 million by 3:30 p.m. EST.

According to Venezuela's National Assembly President Jorge Rodriguez, the death toll from a powerful earthquake that struck the country has risen to 3,811, with 16,740 people injured. The earthquake was followed by 1,102 aftershocks.

According to Benzinga, American Bitcoin, led by Eric Trump, expanded its Bitcoin holdings to 8,000 BTC on July 8, with the company pledging to continue its accumulation strategy. The company reported a 52% mining margin in Q1 2026 and said it maintained industry-low operational costs. However, market sentiment remains subdued. American Bitcoin's stock has plunged 94% since its September 2025 IPO, and the company executed a 15-to-1 reverse stock split last month to bolster the share price, only t

According to Daishin Securities report released on July 9, KOSPI's 12-month forward price-to-earnings ratio hit 6.17x, lower than the 6.27x level during the 2008 financial crisis, despite the benchmark index declining to the 7,200 level. Forward EPS actually rose to 1,174 points as of July 8, compared to 1,105 points at end-June, while valuations of semiconductors, machinery, shipbuilding, and construction sectors have expanded into undervaluation territory. The brokerage views the recent declin

According to Yonhapinfomax on July 9, South Korean brokerages have raised their target prices for Korean Colmar, a leading cosmetics ODM (Original Design Manufacturer) company. Heungkuk Securities increased its target from 88,000 KRW to 136,000 KRW, a 54.5% increase, while Samsung Securities raised its target from 110,000 KRW to 140,000 KRW, a 27.3% increase. The National Pension Service also expanded its stake in the company from 10.52% to 12.68% as of Q2, signaling confidence in the company's

OpenAI recently introduced GPT-Live, a new model that marks ChatGPT's entry into real-time dialogue capabilities. The model aims to enable instant, conversational interactions, positioning voice as a key entry point to AI technology.

According to Seoul Foreign Exchange Brokerage, the Korean won-to-U.S. dollar exchange rate is expected to explore its direction around the 1,500 won level on July 9. The dollar is strengthening due to renewed geopolitical concerns following the collapse of the U.S.-Iran ceasefire and rising tensions surrounding the Strait of Hormuz. However, expectations surrounding SK Hynix's public listing are creating conflicting supply-demand pressures on the won.

According to Shanghai Stock Exchange filings disclosed on July 9, Changxin Technology, a storage chipmaker, officially began IPO subscription for its Science and Technology Board listing on July 16, 2026, with offline subscription code 688825 and online code 787825. The company plans to issue approximately 668.81 million shares, with underwriters granted an overallotment option of up to 15% of the initial offering amount.

According to CNBC, SpaceX fell to $148 on July 8, dropping below its initial public offering opening price of $150 for the second consecutive trading day. The aerospace and defense company, led by Elon Musk, was added to the Nasdaq-100 index on July 7, less than a month after its June 12 debut. The addition triggered automated purchases by index-tracking funds and ETFs. SpaceX raised $85.7 billion in its IPO, one of the largest on record, after underwriters exercised the greenshoe option. Morgan

According to Seoul Bond Market, South Korea's government bond futures fell overnight on July 9 amid a surge in international oil prices. The 3-year government bond futures contract declined 17 basis points to 102.95, while the 10-year contract dropped 35 basis points to 105.56. Foreign investors sold 106 contracts in the 3-year futures, with retail investors selling 146 contracts. WTI crude oil for August delivery rose $3.08 to $73.52 per barrel, gaining 4.37% and reaching its highest level sinc

On July 8, U.S. stock markets closed mixed after President Donald Trump commented that there would be no resumption of war, with the Dow Jones Industrial Average falling 576.76 points (1.09%) to 52,348.39 and the S&P 500 declining 21.14 points (0.28%) to 7,482.71. South Korean markets are expected to stage a rebound on July 9 as investors respond to Trump's remarks and the stabilization in U.S. semiconductor stocks.

According to Jin10, Greenland's Prime Minister Mute Bourup Egede (Nielsen) reaffirmed on July 8 that the island will not be sold, responding to U.S. President Trump's repeated statements that Greenland 'should be controlled by the United States' rather than Denmark. The PM stated that calls to take over or control Greenland will not change this position.

According to CNBC, Magnificent 7 valuations have fallen to their lowest level in over a decade, with Morgan Stanley Asset Management noting a valuation premium of only 10% over S&P 500 peers on July 8. The decline reflects investor rotation toward semiconductor stocks directly benefiting from AI infrastructure investments. Morgan Stanley's Chief Investment Officer Lisa Shalett assessed that hyperscale firms are trading at attractive valuations despite recent pullbacks, maintaining strong fundame

Populis, a blockchain research firm, announced on July 9th that it has joined WebX 2026 as a research partner. The conference will be held July 13-14 at Prince Park Tower Tokyo in Minato, Tokyo. Populis will co-produce the exclusive research report "Japan Digital Asset Market 2026" alongside CoinPost and HashHub, covering the current state, growth trends, regulatory frameworks, and global market comparisons of Japan's digital asset sector. WebX 2026 is a major global Web3 conference operated by

According to traders on prediction market Kalshi, following U.S. President Trump's announcement ending the ceasefire with Iran, Hormuz Strait shipping flow is unlikely to return to normal before 2027. On rival platform Polymarket, traders hold a relatively more optimistic view, estimating a 59% probability that the critical sea route will resume normal operations by December 31.

According to E-Daily, on July 8, South Korea's biotech sector showed strong performance. Lemon Healthcare, which fell 6% on its debut day, reversed course and closed at its daily price limit of 12,220 Korean won, up 22.2% from the prior close. D&D Pharmatech gained 12.38% to 85,300 won, while PharmaResearch rose 8.44% to 340,500 won, as investors repositioned following market volatility earlier in the session.

According to CNBC on July 8, the iShares MSCI USA Momentum Factor ETF (MTUM) fell over 10% from its July 22 high, entering correction territory amid weakness in memory and semiconductor stocks. Major Wall Street institutions—including UBS, Goldman Sachs, and JP Morgan—attributed the decline to momentum strategy liquidation and profit-taking rather than a fundamental deterioration in AI investment demand. UBS noted that "momentum liquidation is underway, but the AI infrastructure investment thesi

According to Jin10, on July 8, U.S. President Trump stated at a NATO summit press conference that he 'sees through Iran' and is now uncertain about reaching any agreement with the country. When asked about his previous praise for Iranian leadership, Trump said his assessment has changed. Trump also claimed he is at the top of Iran's assassination list. He further stated he does not believe the U.S. and Iran will enter into a large-scale prolonged conflict, saying any confrontation would 'end qui

According to NATO summit statements and reports compiled by Jin10, NATO member states committed to providing €70 billion in support for Ukraine in 2026 on July 8-9. Meanwhile, Ukraine's drone forces struck nine Russian "shadow fleet" oil tankers in the Sea of Azov overnight, with two vessels damaged in the operation. South Korea announced it will provide $100 million in additional aid to Ukraine. U.S. President Trump stated he will work with President Zelensky to determine what further assistanc

According to Zhitong Finance, Xingtianxia Technology Limited's Hong Kong IPO prospectus, filed on January 9, 2026, expires on July 9, 2026, after reaching its six-month validity period. GF Securities and CITIC Securities serve as joint sponsors.