Gate Crypto Flash News and Market Updates

According to Guru Club, on July 16, China's domestic futures markets opened mixed. Shanghai silver fell over 3%, while lithium carbonate declined over 2%, and naphtha, glass, tin, raw sugar, PTA, urea, and asphalt each fell over 1%. On the upside, Shanghai nickel rose nearly 3%, platinum gained close to 2%, and synthetic rubber and stainless steel each rose over 1%.

According to TechCrunch, Thinking Machines Lab, founded by former OpenAI CTO Mira Murati, released Inkling, its first open-source AI model, on July 16. The mixture-of-experts model contains 975 billion total parameters but activates only 41 billion per task, trained on 450 trillion multimodal tokens with text-only output. The company claims Inkling achieves equivalent coding performance while consuming one-third the tokens of Nvidia's Nemotron 3 Ultra. The open-weight model is available for down

According to Lookonchain, three newly created wallets withdrew 30,000 ETH from Coinbase Prime on July 16, totaling approximately $57.66 million.

WTI crude oil fell 1.00% intraday on July 16, trading at $78.92 per barrel.

WTI crude oil retreated below $79 per barrel intraday on July 16, down 0.92% during the trading session.

IBM stock slipped to an annual low of $211.03 on Wednesday after the company's preliminary second-quarter results showed revenue of $17.2 billion, falling short of Wall Street expectations. CEO Arvind Krishna attributed the miss primarily to the infrastructure division, where sales declined 7% as clients delayed IT and data center spending amid rising cybersecurity concerns. Bank of America lowered its price target on IBM to $280 from $330 and maintained a 'Buy' rating, noting it was surprised b

According to a Stocktwits poll, over the past 24 hours, 8,200 retail investors weighed in on PayPal's proposed acquisition by Stripe and Advent International at $60.50 per share. A majority view the offer as undervalued, with 35% voting the stock should be worth over $100, 16% backing the $80-$99.99 range, and 16% favoring $70-$79.99. The remaining 33% consider $60-$69.99 appropriate. PYPL stock jumped 17% at Wednesday's close and is tracking its best monthly gains on record. Retail sentiment sh

According to Bloomberg, Eli Lilly is nearing an acquisition agreement with clinical-stage biopharmaceutical company AtaiBeckley (ATAI) on Wednesday after-hours, sending ATAI shares up 59%. The pharmaceutical giant is negotiating the deal at a premium, though specific terms, deal value, and structure have not been disclosed. The report indicated a possible announcement could come as soon as this week. AtaiBeckley develops rapid-acting mental health treatments using psychedelic compounds and is ba

U.S. stock indices ended higher on Wednesday as cooler-than-expected producer prices fueled hopes for moderating inflation. The S&P 500 added 0.35% to close at 7,570.30, while the Dow Jones Industrial Average rose 0.26% to 52,647.23. The Nasdaq 100 declined 0.62% to 29,401.46. The Producer Price Index for June fell 0.3% month-over-month, the largest decline in over a year, easing concerns about inflation persistence. Strong earnings from major banks including Morgan Stanley and BlackRock, along

According to StockTwits, Electrovaya Inc. (ELVA) shares surged 49% on Wednesday after the company announced a commercial agreement with Amazon to supply its Infinity Battery Technology for warehouse material handling operations. The stock clocked its best day since January 2013. As part of the deal, Amazon received warrants to purchase up to 13.9 million Electrovaya shares, which will fully vest once Amazon buys $280 million worth of batteries from the company. Roth Capital analyst Craig Irwin m

According to its announcement on Wednesday, AST SpaceMobile (ASTS) shares plunged 13% in after-hours trading after the company unveiled plans to raise $1 billion through convertible senior notes due February 1, 2034, sparking dilution concerns among existing shareholders. The company intends to use the capital to secure additional orbital access and explore partnerships or acquisitions to reduce reliance on third-party launch providers. Separately, Piper Sandler initiated coverage of ASTS on Wed

According to venture capitalist Magnus Sigurdsson, ATAI stock surged nearly 60% late Wednesday (July 16) after reports of Eli Lilly takeover talks. Sigurdsson, co-founder of Systematic Ventures, estimated a likely acquisition price of $9 to $11 per share, with the top end representing a 105% upside from the last close. He noted that the negotiations likely center on valuation and risk-sharing, with a competing bid unlikely given the formal sale process.

Pop Mart's (09992) stock rose 6.7% to 167.8 HKD, reaching an intraday high of 167.9 HKD with over 2 billion HKD in trading volume, as the company launched the World Cup special edition LABUBU tonight. The MEGA LABUBU 400% World Cup model, priced at 1,625 HKD with a one-unit-per-customer limit, went on sale at 10 p.m. The MEGA LABUBU 1000% World Cup variant, priced at 7,319 HKD, sold out during pre-orders last Friday (July 10) and is scheduled to ship on July 18.

According to a Nomura Securities research report citing Japan's Ministry of Economy, Trade and Industry data released on July 14, Japan's packaging substrate shipments in May reached 278 billion yen, up 36% year-over-year and marking a record high. Shipment area per square meter increased 10%, while average price rose 23% to 1.356 million yen per square meter. The report highlighted two key market drivers: Nvidia's Rubin packaging demand expected to scale up by summer 2026, and potential shifts

According to BlockBeats, ASML maintained bullish ratings from multiple Wall Street institutions after reporting strong earnings and raising guidance on July 16. Bernstein kept an Outperform rating with a $2,623 price target, citing robust order momentum and customer demand, particularly from advanced logic chips for AI accelerators and HBM, as well as leading-edge foundry capacity expansions. Other firms including Jefferies, UBS, Citi, and Cantor also offered positive assessments. Several analys

On July 15, the U.S. Trade Representative's Office imposed a 25% tariff on certain Brazilian goods following a year-long investigation into alleged unfair trade practices including digital trade barriers, intellectual property concerns, and illegal deforestation. The U.S. will exempt Brazilian beef and coffee from the new tariffs. The USTR stated it remains willing to negotiate with Brazil to resolve the issues identified in the investigation.

Singapore-based agritech platform Rize announced on July 16 that it raised US$31 million in Series B funding, comprising US$20 million in equity led by BNP Paribas Asset Management Alts and US$11 million in debt from UOB, BIDV, and Temasek Foundation. The equity round also included The Rockefeller Foundation, Temasek, and Breakthrough Energy Ventures, bringing total funding to US$47 million. Rize plans to deploy the capital for export expansion, field-to-buyer traceability, carbon initiatives, A

Brent crude fell below $84 per barrel, declining 0.81% intraday today (July 16).

According to BlockBeats, on July 16, the U.S. International Trade Commission voted to initiate a Section 337 investigation (Investigation No. 337-TA-1511) into specific dynamic random-access memory devices and downstream products and components. Samsung Electronics, Google, and Nvidia are among the named defendants in the case.

According to Yonhapinfomax, on July 15, Bank of America CEO Brian Moynihan said the U.S. economy functions best when nobody pays attention to Federal Reserve decisions, adding that focus should shift to the real economy rather than central bank actions. Speaking at the Axios House News Shapers Summit in Washington, D.C., Moynihan described incoming Fed chair Kevin Warsh as a traditionalist who will maintain continuity. He noted that despite inflation pressures, consumer spending remains resilien