Gate Crypto Flash News and Market Updates

According to Huawei, 2,900 government and industry leaders gathered today at Huawei South Africa Connect 2026 to examine how AI and intelligent digital infrastructure can help South African organisations adopt AI at scale. South Africa ranks first in Sub-Saharan Africa for AI readiness. Solly Malatsi, Minister of the Department of Communications and Digital Technologies, opened the event, calling for closer partnership between government and industry to widen access to South Africa's digital eco

According to PANews, Coinbase added support for USDC-BRL trading on July 24, making it available to users in Brazil. The pair will debut on Coinbase Exchange and subsequently expand to Coinbase.com, Coinbase App, and Coinbase Advanced, enabling local users to trade and hold USDC stablecoin directly in Brazilian reals.

The U.S. services sector expanded faster than expected in July, with the S&P Global services purchasing managers' index (PMI) rising to 53.6, surpassing the forecast of 51.5 and up from 51.2 in the prior month.

According to S&P Global data released in July 2026, the U.S. manufacturing PMI initial reading came in at 53.8, below the forecast of 54.4 and slightly down from the prior month's 53.9.

According to Guru Club, on July 24, U.S. technology companies released an open letter emphasizing that open-weight AI models are essential for a healthy AI ecosystem. The letter argues that reliance solely on proprietary models poses risks and that the U.S. faces a critical choice in supporting open-weight alternatives.

The U.S. S&P Global Composite PMI initial reading came in at 53.6 in July, beating the expected 52.2 and rising from the prior month's 51.9.

During early trading on July 24, major U.S. industry ETFs displayed mixed performance. Global Aviation ETF rose more than 1%, while Technology ETF gained nearly 1%. Semiconductor ETF declined nearly 1%.

According to Giediminas Jeglinskas, ECB policymaker and Lithuanian central bank governor, on July 24, policy rate increases remain more likely than cuts. The ECB held all three main policy rates steady the previous day. Jeglinskas noted inflation risks remain tilted upward, with crude oil reaching $100 per barrel adding pressure on price growth.

The U.S. July manufacturing and services PMI flash readings, compiled by S&P Global, are scheduled to be released in approximately 10 minutes.

According to Zhitong Finance, Yunxiang Technology (02131) reported adjusted net loss of approximately 21.98 million yuan for H1 2025, swinging to a loss from profit in the same period last year. Revenue declined 5.04% year-over-year to approximately 1.48 billion yuan, while gross profit fell 39.29% to approximately 78.86 million yuan. The company attributed the decline to intensified competition in China's digital marketing industry and cautious budget allocation by advertisers amid shifting mar

According to a company announcement, COFCO Joycome (01610) expects a loss attributable to shareholders of between 1 billion and 1.2 billion yuan for the six months ending June 30, 2026, compared with a profit of 198 million yuan in the same period last year. The decline is primarily due to lower hog sales prices, which compressed profitability in the breeding operations despite ongoing cost optimization efforts.

According to its monthly report, China Power (02380) announced consolidated electricity sales of approximately 11.46 million megawatt-hours (MWh) in June 2026, up 1.45% year-over-year. For the first six months of 2026, the company's cumulative consolidated electricity sales reached approximately 62.03 million MWh, down 0.81% compared with the same period last year.

U.S. stock market opens with mixed signals on July 24. The S&P 500 rose 0.1%, the Dow gained 0.2%, while the Nasdaq fell 0.2%. Amkor advanced 6% following Nvidia's announcement of a $1.5 billion chip packaging agreement with the company. Intel dropped about 1% despite posting a 25% revenue surge in Q2 that beat expectations and maintaining a strong forward guidance. Storage chip stocks broadly declined, with SK Hynix, SanDisk, Micron Technology, Western Digital, and Seagate Technology each falli

The Nasdaq fell 0.72% as U.S. equity markets opened on July 24, 2026.

According to BlockBeats, Oracle Corporation's 5-year credit default swaps surged to a record 203 basis points on July 24. The company's CDS has quadrupled since mid-2025, exceeding peak levels during the 2008 financial crisis, signaling heightened credit risk among investors. Oracle's borrowing costs are also rising. Its 6.7% bonds due 2056 widened by 8 basis points to 263 basis points on Monday, while its 5.7% bonds due 2036 expanded by 9 basis points to 205 basis points. On July 9, S&P Global

On July 24, U.S. stock indices opened mixed. The Dow Jones rose 101.65 points (0.20%) to 51,813.30; the S&P 500 gained 1.66 points (0.02%) to 7,409.76; and the Nasdaq Composite fell 15.39 points (0.06%) to 25,122.31.

According to Jin10, U.S. stock indices opened mixed today, July 24, with the Dow Jones rising 0.17%, the S&P 500 climbing 0.07%, and the Nasdaq declining 0.12%. Among major tech stocks, Oracle (ORCL) gained nearly 2% and AMD (AMD), Microsoft (MSFT) each rose over 1%, while Micron Technology (MU) fell 3% and SpaceX (SPCX) dropped nearly 2%.

Tesla booked a $112 million after-tax loss on its Bitcoin holdings in Q2 and sold zero coins. Its 11,509 BTC sat untouched as Bitcoin fell roughly 14% from about $83,000 in early April to $58,000 by June 30, reducing the position's value to $674 million from $786 million in March. Meanwhile, Strategy, the company that built its identity on never selling Bitcoin, offloaded 3,588 BTC for roughly $216 million between June 29 and July 5 to fund preferred dividends, selling at an average price of $60

According to an announcement on July 23, TrueDAO, an AI-powered decentralized autonomous organization, partnered with Ads3, a Web3 advertising intelligence platform, to combine on-chain and off-chain data with AI-driven marketing intelligence. The collaboration aims to help blockchain developers, decentralized applications, gaming platforms, and crypto communities improve user acquisition, audience targeting, and ecosystem growth. TrueDAO brings decentralized community infrastructure while Ads3

According to HyperliquidNews, HIP-3 open interest reached a new all-time high of $386 million on the Hyperliquid protocol.