Gate Cryptocurrency News and Market Analysis

The KOSPI closed at 6788.88 on May 28, down 1.79% (123.49 points), as Korean stocks failed again to break the 7000 level despite large-scale share buyback programs from Samsung Electronics and SK Hynix. The index gained 1.4% for the week of May 24-28 but repeatedly surrendered gains when

The Bank for International Settlements renewed criticism of stablecoins on Friday, with General Manager Pablo Hernández de Cos questioning their credibility as a means of payment at scale, according to Reuters. Hernández de Cos, a candidate to succeed European Central Bank President Christine

Solana network validators passed governance proposal SGP-0002 with 67% support after Helius CEO Mert Mumtaz secured a last-minute vote change from Kraken. The proposal doubles the network's disinflation rate from -15% to -30%, reducing the inflation schedule. Mumtaz's lobbying in the final hours

U.S. spot bitcoin exchange-traded funds recorded $202 million in net outflows on August 28, according to Sosovalue data, ending a nine-day inflow streak that accumulated approximately $3.04 billion starting August 17. The reversal occurred as spot ether ETFs moved in the opposite direction,

The Bank of Korea implemented consecutive interest rate hikes, ushering in a 3% policy rate era, as bond yields rose on May 28. The 3-year Korean treasury bond yield closed at 3.788%, up 3.3 basis points from the previous trading day, while the 10-year yield finished at 4.284%, climbing 4.6 basis po

Goodyear Tire & Rubber CEO Mark Stewart continues the company's Goodyear Forward turnaround plan as the tire manufacturer burns cash through restructuring and debt repayment. Through the first half of the year, Goodyear posted a net loss of $453 million while operating income reached $131 million

The Nasdaq Composite and S&P 500 gained 0.9% and 0.5% respectively this week, driven by tech earnings results that demonstrated the AI buildout benefits both hardware and software stocks. The gains came primarily Thursday following Nvidia's fiscal second-quarter earnings Wednesday, which delivered b

Salesforce delivered record-breaking quarterly earnings that challenge prevailing narratives about AI's impact on software companies. The enterprise software giant reported revenue of $11.35 billion with 11% growth, while non-GAAP earnings per share of $5.90 nearly doubled analyst consensus

The Independent Community Bankers of America demanded a complete ban on stablecoin rewards in the Digital Asset Market Clarity Act, swaying two Republican senators to oppose the bill ahead of a September 15 Senate vote. ICBA, representing roughly 5,000 community banks, warned that stablecoins

South Korea's Financial Supervisory Service (FSS) held a meeting on the 28th with 11 securities firms at the Korea Financial Investment Association to introduce a two-tier correction request system for securities registration statements submitted for initial public offerings (IPOs) and paid-in

Layer 1 blockchain Fogo halted its network on Saturday, approximately 15 hours after the Fogo Foundation disclosed that an attacker had received 400 million FOGO tokens in a security incident. The Foundation announced the compromise in a Friday 9:13 p.m. ET post, stating an unknown actor had

The Bank of Korea raised its base rate to 3.0% on the 27th, marking the first back-to-back monthly increase since April 2022. The rate hike followed July's increase from 2.75%, driven by three factors: consumer price inflation reaching 2.8% (above the BOK's 2% target), stronger-than-expected

Kiwoom Asset Management launches the KIWOOM Samsung SK Group TOP4+ ETF on the 1st of next month, investing in 10 stocks centered on Samsung Electronics and SK Hynix alongside their holding companies and value chain affiliates. The ETF aims to capture both the growth potential of these

A Solana-based token promoted by Trump-linked brand Real Trump Coins collapsed within hours of its Saturday launch, losing nearly all value after team-controlled wallets sold concentrated supply. Blockchain analytics platform Lookonchain reported that 15 newly created wallets holding 224.5 million

Young Korean investors in their 20s and 30s are experiencing significant losses in this year's stock market boom due to uninformed investment practices based on online rumors and peer pressure, according to data compiled by News1 on the 30th. Survey data from the Korea Financial Consumer

The Institute of International Finance projected on the 25th that South Korea's current account surplus will reach 10% of GDP through next year, forecasting further won appreciation driven by semiconductor sector strength. The won/USD exchange rate fell to 1,372.5 won on the 28th, the lowest level i

Key economic indicators and corporate earnings scheduled for the first week of September may determine whether South Korea's KOSPI index breaks through the 7,000 level. South Korea's August trade data will be released on Sept 1, followed by US semiconductor firm Broadcom's earnings on Sept 2 and the

American tech companies face intensifying public backlash as Meta agreed this week to pay up to $17 billion in a landmark settlement over social media addiction concerns, while AI data center opposition blocked $130 billion worth of projects during the first quarter of this year. More than half of A

Alphractal founder Joao Wedson stated that Bitcoin's recent recovery may not signal a cycle bottom, with on-chain data suggesting the price could fall to $53,000 or lower. Wedson's analysis centers on the MVRV Z-Score indicator, which measures investor behavior and market realized value. The