Gate Crypto Flash News and Market Updates

According to Yonhap Infomax, Seoul's FX market officially switched to 24-hour trading from July 6, 2026. Under New York summer time, trading now runs from 6 AM Monday to 6 AM Saturday, extending the previous 9 AM to 2 AM window to continuous operation. Trading volume during early morning hours remained limited in the first week. Between 2 AM and 6 AM on July 11, only 11 trades were recorded across Seoul Foreign Exchange Intermediary and Korean Funds Intermediary combined. Traders at some institu

According to Maeil Business Newspaper, the U.S. Securities and Exchange Commission (SEC) delayed the launch of SK Hynix ADR 2X leveraged exchange-traded funds (ETFs) from July 13 to July 14 on July 13. The SEC instructed stock exchanges to begin trading in SK Hynix ADR leveraged and inverse ETFs on July 14 instead, with pre-market trading commencing that morning. While the SEC has not publicly disclosed its reasoning, the move is understood to reflect concerns about leveraged ETFs amplifying vol

According to Duke University professor Campbell Harvey, an $8 billion Bitcoin 51% attack could become profitable by pairing majority network control with large short positions in derivatives markets. In a recent appearance on "The Wolf of All Streets" podcast, Harvey outlined a theoretical scenario in which an attacker simultaneously builds mining hashpower and establishes shorts, using price decline from the attack to offset equipment, infrastructure, and electricity costs. Harvey estimated the

According to Jin10, on July 13, the U.S. Department of Justice is investigating allegations that UAW Chairman Shawn Fain abused his authority and sought to secure economic benefits for his fiancée. A lawyer overseeing the union mentioned the investigation in an email to Fain and UAW Vice President Rich Boyer last month. In a June 25 report on union activities, the monitor stated he determined Fain "engaged in misconduct to secure economic benefits for his fiancée," who is employed at a training

According to US Central Command, the US launched fresh strikes against Iran on July 12, targeting Iranian forces in the Strait of Hormuz. At 5 p.m. ET, CENTCOM forces began attacks aimed at degrading Iran's ability to threaten civilian mariners and commercial ships transiting the strategic waterway. The strikes represent the third round of attacks this week as the US seeks to hold Iranian forces accountable following the collapse of a ceasefire agreement.

On July 13, the Hang Seng Index opened down 0.07%, with the Hang Seng Tech Index declining 0.04%. The semiconductor sector led losses, with Maxim Semiconductor (GigaDevice) tumbling nearly 12% and Montage Technology falling over 3%. In contrast, Zhipu AI rallied nearly 5% after JPMorgan Chase raised its price target from 2,000 to 2,400 Hong Kong dollars.

According to Business Insider on July 12, Bank of America's chief investment strategist Michael Hartnett warned that investor sentiment has reached the most extreme bullish level in 5 years, signaling the need to reduce risk asset exposure. BofA's Bull & Bear indicator, which synthesizes hedge fund positioning, equity and bond fund flows, institutional positions, and credit market technicals, has issued the strongest warning signal since 2021.

According to The Motley Fool, Nvidia stock has gained only 5% year-to-date through July 7, significantly underperforming its record run in 2023-2025, though analysts attribute this to valuation contraction rather than fundamental weakness. The company's data center segment reached record quarterly revenue with management guiding for further acceleration in the second quarter, while its Blackwell and Vera Rubin processors are expected to generate approximately $1 trillion in combined revenue visi

According to Bloomberg, as of July 9, South Korea's KOSPI index posted a 12-month forward price-to-earnings ratio (P/E) of 6.35x, falling below the 6.82x recorded in October 2008 during the global financial crisis, despite the index surging around 80% year-to-date driven by improved earnings from Samsung Electronics and SK Hynix. The KOSPI's 12-month forward earnings per share (EPS) estimates were revised upward approximately 170% this year, the largest annual increase since 2006, as global tech

According to The Hill, U.S. Senate Republican leadership aims to advance a full Senate vote on the CLARITY Act, which would establish a regulatory framework for digital assets, on the week of July 20. The legislation requires support from at least seven Senate Democrats to pass. Negotiations between the two parties remain unresolved on key issues including government ethics rules and illicit finance concerns. Without progress before the August recess, lawmakers will have minimal legislative time

According to Reuters NEXT Asia, HashKey On-Chain Chief Operating Officer Rachel Qiu participated in a panel discussion on July 9 with representatives from Schroders Investment Management, Invesco, and Revo Digital Family Office to explore digital asset market trends, institutional adoption pathways, and the future of on-chain financial infrastructure.

U.S. legislators plan to release a new draft of the cryptocurrency market structure bill this week.

According to JPMorgan Chase, the investment bank raised its target price for Zhipu (02513.HK) to 2,400 Hong Kong dollars, marking a 20% increase and the second upward revision within a week. The previous target price of 2,000 HKD was set just last Tuesday. JPMorgan attributed the upgrade to the company's $4 billion stock placement, which is expected to alleviate computing power supply constraints and support subsequent model training investments. The bank projects that new inference computing ca

According to Taiwan Economic News, TSMC has begun mass production of 2-nanometer chips, with Google becoming its first smartphone chip customer. Google is set to launch new devices powered by the chips in mid-August, ahead of Apple's release by approximately one month.

According to Guru Club, on July 13, China's energy-related futures rose broadly, with SC crude oil jumping over 3% to 483 yuan per barrel, fuel oil up nearly 5%, benzene up over 4%, styrene (EB) up over 3%, and ethylene glycol (EG) and butadiene rubber each up nearly 4%.

According to its IPO prospectus, Chinatone (芯天下 Technology Co., Ltd) filed its second Hong Kong Stock Exchange application in 2026 as the flash memory industry surged amid AI adoption. The fabless memory chip designer reported Q1 2026 revenue of RMB 224 million, up 77.4% year-over-year, with net profit reaching RMB 75.89 million. SLC NAND product gross margin expanded to 67.5% in Q1 2026 from 14.2% in Q1 2025, driven by supply tightness. Ranked fifth globally among fabless memory suppliers by 20

CITIC Securities, according to Hong Kong stock disclosures, guided for interim period (H1 2026) net profit attributable to shareholders of 23.343 billion yuan, representing a 70.15% year-over-year increase.

According to Tibo, OpenAI's core product head, Codex and ChatGPT Work combined have reached 6 million active users, with the company temporarily removing the 5-hour usage limit across Plus, Business, and Pro plans. The move also includes a one-time reset of usage quotas for affected tiers. OpenAI is also adjusting the consumption calculation for GPT-5.6 Sol, which will reduce token usage for similar tasks, though the specific reduction percentage has not been disclosed. For high-frequency users,

According to industry sources, Han Seung-pyo, founder of South Korea's major insurance agency Goodrich, is pursuing management control recovery through a call option exercise, with the deadline set for mid-September. Han is in discussions with multiple financial investors, including Bayside PE founded by former Korea Investment & Securities personnel, to secure the necessary funds. JC Partners acquired 60% of Goodrich in 2022 at an enterprise value of 350 billion won. The company's current estim

According to Yonhapinfomax, POSCO International's operating profit for the second quarter of 2026 is expected to reach 351.6 billion won, up 12.11% year-over-year, based on a consensus of 13 major domestic securities firms' projections. Sales revenue is forecast at 8.4294 trillion won, representing a 3.5% increase. The earnings growth is primarily driven by contributions from previously invested assets, including increased LNG production from Australia's Senex gas field and the acquisition of pa