Gate Crypto Flash News and Market Updates

According to Morning Minute, Jesse Pollak, Coinbase executive running Base blockchain, handed the Base consumer app to trader Cobie today and acknowledged his 2024-2025 strategy betting on onchain social growth was incorrect. Pollak admitted that the social ecosystem he championed—including Farcaster, Zora, and creator coins—"disintegrated completely" and said he was "wrong" about content coins. He is now refocusing Base as "the blockchain for global finance," prioritizing trading, payments, and

According to ChainCatcher, Galaxy Digital announced the launch of Galaxy Curator, an institutional-grade vault management service built on the decentralized lending protocol Morpho. The product is available to over 2,400 institutional clients through Fireblocks Earn, enabling them to earn stable-coin yields on-chain without directly managing DeFi infrastructure. Galaxy Curator addresses the problem of large stable-coin holdings sitting idle in custodial accounts, helping institutions overcome se

On July 16 evening session, Shanghai Gold Exchange gold T+D contracts fell 0.72% to 877.2 yuan per gram, while silver T+D contracts declined 3.02% to 13,849 yuan per kilogram.

According to Odaily, Longsine Technology has set its IPO offering price at 8.66 yuan per share, requiring 4,330 yuan per winning lot of 500 shares. Based on market analysis across four valuation scenarios, the company's post-listing opening-day gain is projected between 70%-600%, translating to profit of approximately 3,000 to 26,000 yuan per winning lot. The company will direct all IPO proceeds toward three domestic storage replacement projects: upgrading a 12-inch DRAM wafer production line, a

According to Eni's CEO, Europe could face high natural gas prices in January 2027 due to halted Russian imports and low storage levels.

According to EToday, South Korea's central bank digital currency pilot program "Hangang Plan" launched its second phase, with Gyeongnam Bank and iM Bank formally joining, bringing total participating banks to 9. The phase 2 testing significantly expands the deposit token user base and use cases. Electronic wallet limit increases from 100,000 to 500,000 units, with usage expanding from existing merchants to small and medium enterprises and large corporations. New features include inter-wallet tra

According to Etoday, South Korea's Financial Services Commission approved recovery and resolution plans for 10 financial institutions under five major financial groups—Shinhan, KB, Hana Bank, Woori, and NH Bank—while formally adding digital bank run and cyberattack risks to the crisis management framework. The regulator plans to further enhance monitoring metrics to identify liquidity risks earlier as online financial transaction volumes grow, and will strengthen financial institutions' cybersec

According to Odaily, Huofang Quantitative, controlled by Liang Wenfeng, is participating in Changxin Technology's IPO underwriting at 8.78 yuan per share, with maximum bids up to 230 million shares per batch. The Zhejiang Jiuzhang and Ningbo Huofang entities, both registered with China's fund industry association and both 85%+ controlled by Liang, are placing most products in the 70–140 million share range. Changxin's IPO strategic allocation also attracted state-backed funds including the Natio

According to Odaily, ARK Invest research head Lorenzo Valente recently disputed a16z Crypto's stance that traditional finance would embrace private blockchains rather than DeFi, arguing that financial institutions are more likely to build on open DeFi infrastructure in the future. Valente pointed to the growth of tokenized assets on public networks like Ethereum as evidence that open blockchains offer stronger network effects and scalability than permissioned alternatives. He added that the next

According to Stalkchain monitoring, a whale address cluster bought 10.43 million ANSEM tokens for approximately $2.551 million over the past few days and liquidated the entire position today, incurring a loss of about $60,700. The on-chain data tracked by Arkham showed that the whale initially accumulated the tokens across six wallets over three days before consolidating them into a main address, which then added 7.535 million more ANSEM for $1.737 million. The whale subsequently exited by selli

According to Odaily, AI and tokenized finance infrastructure platform Alpaca raised $135 million in a recent funding round led by Peak XV, with participation from Elefund, Opera Tech Ventures (BNP Paribas' venture arm), and Unbound. The round brings Alpaca's total funding to $435 million. The new capital will be used to accelerate development of its AI-native brokerage infrastructure and API-first prime brokerage services, enabling fintech firms, banks, brokers, and crypto platforms to build inv

According to PPP prediction market tool monitoring, predict.fun shows Messi's probability of winning the 2026 World Cup Golden Boot has surged to 65%, up 15% in 24 hours. Mbappe ranks second with 36%, while England captain Kane's odds collapsed to 1% after the team's elimination. The shift follows England's 1-2 defeat to Argentina this morning, with Messi providing two crucial assists. Messi currently leads the tournament with 8 goals and 4 assists, maintaining a narrow 1-assist advantage over M

According to Forbes, California-based fintech company Flex closed a $70 million Series B1 funding round led by Halo Fund on July 16. Flex Global, its stablecoin-based cross-border banking platform, offers multi-currency accounts spanning 32 currencies across 170 countries and regions.

According to Reuters on July 16, Iran has instructed Yemeni Houthi forces to prepare to close the Strait of Hormuz should the United States attack Iranian power infrastructure, according to three informed sources. The directive poses a significant new threat to global energy supplies. The idea has been discussed within Iran's leadership and conveyed to Tehran's Houthi allies, with sources indicating the armed group has recently been made aware of the requirement.

South Korea's benchmark stock indices fell sharply today, with the KOSPI dropping more than 6% to close at 6,820 and the KOSDAQ declining over 4% below the 800-point level. The declines were driven by weakness in U.S. semiconductor stocks and the Bank of Korea's recent interest rate hike.

According to Bloomberg TV, Strategy CEO Phong Le stated that Bitcoin reaching the $8,000–$10,000 range represents the company's debt risk threshold, at which point the balance sheet would enter a capital-structure stress zone. At BTC's current price of approximately $64,500, this level implies roughly an 85% drawdown. Le said the company feels "very secure about the balance sheet" until that point and aims to "build a capital structure that can withstand bear markets." Strategy holds over 840,00

According to Eli Lilly, on July 16, the pharma giant announced it will acquire ATAI at $6.75 per share in cash, with additional milestone payments tied to two lead depression therapies bringing total potential value to $9.25 per share. Based on ATAI's Wednesday close of $5.36, the deal represents a 72.6% premium. ATAI stock jumped over 33% in pre-market trade, while Compass Pathways, a former major ATAI shareholder with a 4.96% stake as of February 2026, gained 7%. The deal is expected to close

According to Beating, Million released ReactBench v1, a benchmark testing AI coding agents on 51 real React development tasks. GPT-5.6 Sol scored 43.1%, leading competitors; Fable 5 followed at 41.2%. Million noted the gap is marginal, insufficient to confirm Sol's clear advantage. Despite leading scores, even top-performing models completed less than half of tasks. Across 4,455 tests, all models introduced 1,194 React issues, with 77.5% classified as bugs or security problems.

ARK Invest director of research Lorenzo Valente pushed back on Wednesday against venture capital firm a16z crypto's thesis that traditional finance will adopt permissioned blockchain infrastructure rather than decentralized finance. In an X post, Valente cited the outperformance of public blockchains and growth of tokenized assets on Ethereum, arguing that crypto-native firms such as Circle and Coinbase, rather than incumbent financial institutions, are best positioned to build the next generati

On July 16, Russia's presidential spokesman Dmitry Peskov assessed prospects for resuming Russia-Ukraine peace talks, saying no signs of rapid restoration appear likely in the near term, though Russia remains open to negotiations. Peskov was responding to Turkey's foreign minister's willingness to continue organizing talks and actively mediating between the parties.