Global TradFi & Macroeconomics

In 2025, ByteDance's net profit fell over 70% due to high spending on AI infrastructure, despite a nearly 50% revenue growth from overseas and significant expansion in TikTok Shop. Challenges include regulatory headwinds impacting e-commerce.

Tencent has acquired a 3.2% stake in Kazakhstan's fintech and ecommerce firm Kaspi.kz for $518 million, marking its first investment in Kazakhstan. Kaspi.kz dominates digital payments and ecommerce in the region and is highly profitable.

KOSPI, Korea’s composite stock index, recently reached a record high, mainly driven by growth in the AI industry and hopes for a peaceful period between the U.S. and Iran. Samsung and SK Hynix are supporting steady demand for semiconductors, but the market’s price-to-earnings ratio has declined. JPMorgan raised its KOSPI target price to 8,500 points, signaling optimism about the Korean stock market, but it remains necessary to monitor whether the “Korea discount” phenomenon can be reversed to attract more investors.

Ethereum spot ETFs experienced significant net inflows of $67.77 million on April 20, led by BlackRock's ETHA. In contrast, Grayscale's ETHE and other products faced notable outflows.

Grayscale, on April 20, 2026 (Monday), submitted an updated HYPE ETF filing to the U.S. Securities and Exchange Commission (SEC), listing Anchorage Digital Bank as the primary custodian, replacing Coinbase, which had served as the primary broker and custodian in the prior filing. If approved by the SEC, the fund will trade on Nasdaq under the stock ticker GHYP.

South Korea's exports rose 49.4% in early April, driven by strong semiconductor demand and high oil prices, leading to a $10.4 billion trade surplus. However, rising inflation and currency issues pose challenges for future growth.

A report by UK's Vimeo reveals that only 3 vessels passed through the Strait of Hormuz on April 19, setting a new low for recent transit levels.

Gate News message, a newly created wallet address "0xEbE" deposited $10 million USDC into HyperLiquid and opened a 63,000 BRENTOIL short position with 20x leverage. Another wallet "0x9D3", linked to the same whale, holds 20x short positions of 250,000 BRENTOIL (valued at $22.5 million) and 210,000 C

Gate News: According to the latest Gate TradFi data, TW88 (MSCI Taiwan) has surged by 1.5% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

JackYi, founder of Liquid Capital, asserts the market is in a rally phase but anticipates a pullback due to potential triggers like declining U.S. equities and inflation data. He advises investors to focus on risk management and capital preservation.

On April 20, Bitcoin spot ETFs experienced net inflows of $238.37 million, with BlackRock's IBIT leading at $256.05 million. Grayscale's GBTC and Fidelity's FBTC saw net outflows.

According to the Schedule 13D filing submitted to the U.S. Securities and Exchange Commission (SEC) on April 20, Tether holds 1,950,000 shares of the Bitcoin mining financial platform Antalpha through affiliated entities, representing a 8.2% ownership stake. Tether chairman Giancarlo Devasini has voting and disposition rights over the aforementioned shares.

South Korea's central bank Governor Shin Hyun-song aims to promote CBDCs and deposit tokens through Project Hangang Phase 2, emphasizing digital payment innovation and financial stability while signaling a softening stance on stablecoins.

A U.S. crypto exchange is negotiating with a Dubai platform to tokenize U.S. stocks for international users, while facing regulatory challenges. The Dubai platform aims for compliance and secure licensing through a local joint venture.

Morocco's Ministry of Industry and Trade has extended safeguard measures on imported hot-rolled steel for three years, with declining tariff rates starting at 19% and covering specific tariff codes.

Deutsche Bank released a research report on April 20, citing db DataInsights survey data covering 3,400 consumers in the United States, the European Union, and the United Kingdom. The report shows that the retail adoption rate of cryptocurrencies in the U.S. rebounded to 12% in March, returning to the level of July 2025. The report also indicates that 70% of respondents who hold cryptocurrencies said they hold Bitcoin, the highest share among all types of crypto assets.

Revolut's CEO Nik Storonsky stated that the digital bank will not pursue an IPO before 2028, emphasizing the potential of future secondary share sales for building trust. After obtaining a UK banking license, they are applying for a US bank charter, expecting approval within a year.

US software company Strategy purchased $2.54 billion in bitcoin, primarily funded by preferred share sales, marking its largest weekly acquisition since November 2024. It now holds $61 billion in bitcoin and plans to increase dividend payments to stabilize share price.

Gate News: According to the latest Gate TradFi data, NZDCHF (NZD/CHF) has surged by 0.5% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

Apple CEO Tim Cook will transition to executive chairman on September 1, with John Ternus named as the new CEO. Cook's tenure saw Apple's market cap rise from $350 billion to $4 trillion, marking a strategic shift towards engineering expertise for future innovations.