Gate Crypto Flash News and Market Updates

According to Yonhap Infomax, on July 28, KB Asset Management appointed Lee Jun-seok as head of its ETF Product Division. Lee, who joined KB last December, previously served as head of product strategy at Woori Asset Management for approximately two years, where he led the launch of South Korea's first U.S. IPO-focused mutual fund in partnership with Neuberger Berman, which surpassed 100 billion won in assets under management within three months. He also managed KB's involvement in SpaceX's recen

According to Rayliant data, the 60-day correlation between South Korea's Kospi index and the U.S. Nasdaq 100 recently reached 0.50, its highest level since 2021, as artificial intelligence hardware spending increasingly ties together U.S. technology giants and Korean memory chipmakers Samsung Electronics and SK Hynix. The tighter relationship reflects that both companies, which account for more than 50% of the Kospi, provide critical memory chips for AI data centers. The dynamic was illustrated

According to Bank of America strategist Michael Hartnett, the U.S. bond market has emerged as the primary source of uncertainty in the current AI bull run, with 30-year Treasury yields rising to 5.2%, the highest since 2007, and real yields climbing to 3%, reaching levels last seen in November 2008. The surge in bond yields is tightening financial conditions faster than corporate earnings improvements can offset, creating a credit crunch for capital-intensive AI operations. Meanwhile, credit def

According to Jim Cramer on Monday night's episode of Mad Money, the US government serves as a quiet backstop ensuring Nvidia does not lose the artificial intelligence race to China. Nvidia is in talks with OpenAI to guarantee roughly $250 billion in financing for a 10-gigawatt data center campus in Piketon, Ohio, according to the Wall Street Journal. Commerce Secretary Howard Lutnick holds the key: he controls access to federal power at the site, which sits on decommissioned federal land. The el

According to Jin10, China's A-share market opened lower on July 28, with Shanghai Composite Index down 0.91%, Shenzhen Component Index down 2.25%, and ChiNext Index down 3.12%. Stock C Long Core fell 7.7% at the open.

According to SmartFinance, Lao Pu Gold (06181) opened sharply lower today, falling 12.97% to HK$345 per share with turnover of HK$29.325 million. The company released a positive earnings preview, forecasting H1 revenue of HK$22.7–23.35 billion (up 60–65% year-over-year) and net profit of HK$4.31–4.36 billion (up 83–85% year-over-year). Based on Q1 preliminary data, calculations suggest Q2 revenue was HK$2.3–3.95 billion and net profit HK$510–760 million, representing a sharp sequential decline.

According to the company's announcement on July 27, China Pharma Holdings expects H1 2026 net profit of 5.9–6.2 billion yuan, up 131–143% from 2.55 billion yuan in the same period of 2025. The surge is primarily driven by a $840 million licensing fee (approximately 5.74 billion yuan) recognized in Q2 2026. Excluding this one-time licensing income, pharma sales revenue grew about 10% year-over-year, continuing to support overall profitability. The stock rose 3.13% to 8.56 Hong Kong dollars.

As of 09:30 Beijing time on July 28, WTI crude oil futures declined 0.45%, while U.S. natural gas futures fell 0.75%.

According to Odaily, U.S. stocks closed mixed on July 28, with the Dow rising 0.51%, the S&P 500 up 0.02%, and the Nasdaq down 0.18%. AI-related stocks led gains, with Atlassian surging 10.35%, Workday up 9.01%, UiPath gaining 7.2%, Palantir rising 7%, and SAP advancing 6.88%. Data sourced from MSX.COM.

According to Odaily, Kalshi settled a $3.32 million Spotify prediction market on June 29 after allegations of artificial stream manipulation. The market tracked which artists topped Spotify's U.S. daily chart. Trader Caleb Davies reported that Malcolm Todd's song "Earrings" surged 70% in a single day and claimed the top spot, with open interest rising from $2,000 to over $70,000 before the data dispute emerged. Spotify subsequently removed 523,000 plays attributed to "Earrings," which would have

According to Yonhap InfoMax, Kakao released four lightweight language models (SLM) of its Kanana AI model as open source on Hugging Face today, July 28. The models, including Kanana-2-1 3B-base, are designed to run on devices such as smartphones. The Kanana-2-1.3B-instruct and Kanana-2-0.9B-instruct models demonstrated performance comparable to global peers in conversation, knowledge, code, math, instruction-following, and tool-calling tasks. The company optimized its tokenizer for Korean, impro

According to ING, on July 27, the bank forecasted the Federal Reserve will hold rates unchanged at this week's FOMC meeting. ING expects no interest rate hikes for the remainder of the year if oil prices continue declining, though it acknowledged the market remains uncertain about the Fed's decision and forward guidance is lacking. CME FedWatch data shows the market is pricing in a 64% probability of a rate hold and a 36% probability of a hike at the upcoming FOMC meeting.

According to Yonhap Infomax, on July 28, South Korea's FX swap points surged across all tenors, with the 1-month rate closing at positive 0.20 won at Seoul Foreign Exchange Brokerage—the first positive close since June 2, 2022. Overnight and T/N rates also turned positive at 0.080 won and 0.010 won respectively, signaling broad short-term strength. Market participants attributed the spike partly to dollar liquidity from SK Hynix's U.S. ADR financing and export-related negotiation volumes.

According to Oppenheimer, Palantir (PLTR) stock rose 7% to $131.53 on July 27 as the investment bank maintained its outperform rating and $200 price target ahead of the company's Q2 earnings release. GuruFocus reported that Oppenheimer expects Palantir's Q2 revenue to exceed expectations, with full-year guidance likely to be raised, citing sustained demand for AI software from both U.S. government and commercial customers. The company is scheduled to report Q2 results on August 3.

Crude oil futures fell 6% intraday today, trading at 3,505 yuan/ton.

According to Korea Economic TV, South Korea's Financial Services Commission signaled today (July 28) that it would set a 20% personal investment limit on single-stock leveraged ETFs if current measures fail to contain demand. Financial Services Commission Chairman Lee Eok-won indicated the regulator will first assess the effectiveness of enhanced margin deposit requirements, and if investor demand persists, it will implement the individual investment cap alongside other measures to manage liquid

According to Jin10 Data, the Chinese Central Bank conducted 305.5 billion yuan of 7-day reverse repurchase operations on July 28, offsetting 253 billion yuan in maturing operations. The net liquidity injection reached 52.5 billion yuan.

According to Anthropic CEO Dario Amodei, the company does not advocate a comprehensive ban on open-weight models. Amodei acknowledged that open models can reduce costs, enhance competition, and enable customer self-deployment, calling models without dangerous capabilities a "public good." However, he disagreed that open models are inherently safer or that defenders benefit more than attackers once weights are released. Anthropic instead proposes three alternatives: restricting advanced chip and

According to CNBC on July 27, President Donald Trump stated that the United States has earned over $13 billion from Venezuelan crude oil sales since the ouster of Nicolas Maduro in January. Trump made the remarks while traveling to Michigan aboard Air Force One. The U.S. took control of Venezuela's oil exports after a military operation in January that resulted in Maduro's arrest. Energy Secretary Chris Wright disclosed in April that approximately 150 million barrels of Venezuelan crude have bee

According to Jeremy Siegel, Wharton School professor emeritus, on CNBC, the 10-year U.S. Treasury real yield rose to 2.43% on July 27, reaching levels that have historically created headwinds for stock markets. Siegel noted the spread between inflation-adjusted Treasury yields and inflation-adjusted stock market returns at approximately 5%, adding that while stocks still hold a yield advantage over bonds, further rate increases could diminish their appeal. He said, "It's not yet a threat, but if