Gate Insights and Crypto Market Analysis

Hackers compromised the SpaceXAI and Starlink accounts on X and used them to promote a fraudulent meme coin called SCATMAN, netting approximately $125,000 in Ethereum before the posts were detected and removed. The attacker minted 10 trillion SCATMAN tokens and sold the entire supply through two

Tether (USDT) usage reached 35.1% by July 2026, outperforming the 29.0% recorded in July 2021 and surpassing 2024 levels which remained in negative territory. The increase reflects investor preference for stability over risk as crypto adoption rises rapidly. This shift is driven by expanding

The FBI's Louisville field office reported a rise in government impersonation scams targeting Kentucky residents, according to the Federal Bureau of Investigation. Scammers posing as police or government officials pressure victims into sending cryptocurrency payments to avoid fabricated legal

The Korean stock market experienced a sharp decline on May 13, with the KOSPI index falling 8.95% (669.01 points) to close at 6,806.93 as institutional investors sold 2.1968 trillion won and foreign investors sold 1.708 trillion won, overwhelming individual buying of 3.8829 trillion won. The crash w

The dollar-won exchange rate rose 2.0 won to 1503.4 won at 3:30 PM, breaching the 1500 won level after foreign investors' net selling on the KOSPI expanded to 1.7 trillion won scale. The rate had declined to the 1497 won range in the morning due to expectations of large-scale dollar inflows from

SK Hynix stocks fell 15.37% on July 13, closing at 1.845 million won, as Binance's SKHYNIXUSDT perpetual futures contract recorded approximately $2.0609 billion (approximately 3.0962 trillion won) in trading volume between 12:00 AM and 3:36 PM. The decline was driven by Middle East risks from

The USD-JPY exchange rate rose on the Tokyo foreign exchange market on July 13, climbing 0.19% from the previous session to trade at 162.031 yen as of 1:46 PM, according to Yonhap Infomax. The yen weakened as geopolitical risk-driven dollar buying intensified following renewed escalation in

The Cambridge Center for Alternative Finance issued a report in June titled 'Ethereum after the Merge: A Change in Power,' revealing that Ethereum's energy consumption dropped by nearly 99.98% following its consensus mechanism change on 15 September 2022. The network's annual power demand

President Lee Jae-myung stated on July 13 at the Blue House National Fiscal Strategy Meeting that South Korea may need to adjust household electricity rates, which currently stand at 150-160 won per kilowatt-hour compared to industrial rates of approximately 180 won per kilowatt-hour, contingent on

Lee Chan-jin, Governor of South Korea's Financial Supervisory Service (FSS), chaired a meeting with asset management company CEOs on May 13 at the Korea Financial Investment Association in Yeouido, Seoul, but made no public remarks about single-stock leveraged exchange-traded funds (ETFs) during

South Korean government announced on July 13 the largest-ever spending restructuring and creation of a new Future Response Fund to accumulate additional tax revenues, while committing to create over 300,000 youth jobs and prioritize new-type public rental housing for young people. Minister Park

SpaceX IPO memorabilia is selling at premium prices on eBay following the company's public offering, according to Business Insider reporting on local time 9th. Global M&A activity reached approximately $3.2 trillion in the first half of this

Iran's Islamic Revolutionary Guard Corps (IRGC) announced strikes on US military targets in Jordan, Bahrain, and Kuwait on the 13th, according to Iran's state-run IRNA news agency. The IRGC stated the attacks targeted Prince Hassan Air Base in Jordan, a US drone command center in Bahrain, and

South Korean government bond futures narrowed their losses on the afternoon of the 13th, supported by strong demand from a 10-year treasury auction and increased foreign net buying. The 10-year treasury auction settled at a rate of 4.255% with 2.8 trillion won allocated, considered strong as

BNK Investment & Securities analyst Lee Min-hee issued a 'hold' rating with a ₩1.85 million target price for SK Hynix stocks last week, when the stock was trading above ₩2.2 million — effectively a sell recommendation. The analyst cited anticipated slowdown in hyperscaler capital expenditure

Cape Town Mayor Geordin Hill-Lewis joined metro police in a night operation to impound luxury vehicles with fake registrations linked to fraudulent cryptocurrency operations. Authorities targeted self-proclaimed crypto and foreign exchange traders accused of using high-end cars as physical status

Japanese Prime Minister Sanae Takaichi reaffirmed her government's support for startups and Web3 innovation in a video address to WebX 2026 on July 13, underscoring Tokyo's effort to position blockchain, digital assets and next-generation finance as part of its national growth strategy. Takaichi

South Korea's Fair Trade Commission established standards for evaluating the normal pricing of corporate trademark usage fees, marking the first regulatory framework for internal transactions involving brand rights. The FTC created detailed criteria and systems to assess whether trademark fees

Michael Burry's 'Cassandra Unchained' newsletter crossed 300,000 subscribers in 231 days, representing a theoretical annual revenue opportunity of $113.7 million based on the $379 yearly subscription price. Burry reported Sunday that the publication reached 300,044 subscribers and 346,680

Taiwan Semiconductor Manufacturing Co. (TSMC) reported a 67.9% year-on-year increase in June sales on Monday, ahead of its second-quarter earnings release later this week. The surge is driven by demand for artificial intelligence chips and infrastructure investments. TSMC, the world's largest