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Elon Musk stated that the goal of the Terafab project at Gibbons Creek is to achieve mass production of chips around the third quarter of 2028, with the first test chip expected to operate normally in May or June 2027.

Strive announced that its newly issued preferred stock SATS has raised $630 million through its initial public offering (IPO) and has been listed on Nasdaq. The raised funds will be used to purchase more Bitcoin and income-generating assets.The preferred stock has a fixed annual dividend rate of 15%, paid daily, with the first dividend scheduled to be distributed on November 9.

According to Gate market data, U.S. stocks opened lower, with the Dow Jones down 0.04%, the S&P 500 index down 0.22%, and the Nasdaq down 0.49%. SK Hynix fell 3%, SanDisk fell 1.7%, Micron Technology fell 1.9%, Western Digital fell 0.9%, Apple fell 0.8%, and General Motors fell 6%.

According to a report by The Block, Coinbase released a report titled "The Always-On Dollar" indicating that in the third quarter of 2026, the average hourly transfer amount of organic stablecoin transactions exceeded $400 million. Over the past 12 months, as of July 31, approximately 73% of filtered stablecoin transfer volume occurred outside of U.S. banking hours, highlighting the demand for 24/7 stablecoin payments.The report shows that the adjusted quarterly transfer volume of stablecoins has grown to four times its original amount since the beginning of 2023, reaching $891 billion in the third quarter of 2026. At the current growth rate, this figure is expected to reach $1.5 trillion by the end of 2027. The report also noted that using USDC to remit $200 through the Base network can save about 86% in fees compared to traditional payment channels. Furthermore, if 80% of global international transactions shift to stablecoin payment networks, the global annual GDP could increase by an additional $155 billion.Looking ahead, the report believes that stablecoins are likely to become an important payment infrastructure for the AI agent economy. McKinsey estimates that by 2030, between $3 trillion to $5 trillion in B2C commercial transactions will be facilitated by AI agents, with stablecoins supporting small transactions such as payment task fees between agents, purchasing API calls, and on-demand access to data and computing power.

A Reuters survey shows that 100 surveyed economists expect the Federal Reserve to raise interest rates in December 2026, while action may be paused in October.Among them, 94 expect that by the end of 2026, the federal funds rate will rise to 4.00% - 4.25%. In contrast, in the September survey, only 29 economists held this expectation out of 76 respondents.

According to Gate market data, General Motors (GM.N) pre-market decline has expanded to 8%.

According to TechCrunch, the AI meeting tool Otter.ai has secured $320 million in funding from Customer Value Fund (CVF) under General Catalyst. This funding will not dilute the company's equity, and CVF will earn returns through the performance generated by Otter.ai's marketing investments.Otter.ai plans to use the funds for business growth, market expansion, international expansion, and product innovation.

According to the official announcement, Binance will update the full margin borrowing and withdrawal collateral rates for POL, SHIB, XLM, COW, NEXO, RVN, and SAND on October 23, 2026, at 06:00 (UTC). The update is expected to be completed within 30 minutes.

Renowned financial services company Cantor Fitzgerald reiterated Tesla's "Buy" rating, maintaining the target price at $485.The agency's analysts believe that the demonstration of the Tesla Roadster sports car is expected to be stunning, but its actual contribution to the company's short-term profits remains limited. Analysts pointed out that the subsequent commercialization of the Roadster still faces uncertainties such as road legality and mass production progress, so even if the demonstration effect is outstanding, it may not quickly translate into substantial financial gains.

The complete trailer for Netflix's upcoming FTX-themed series "The Altruists" was released this week, and former FTX Chief Operating Officer Constance Wang criticized the trailer in a post on X, stating that watching it made her "physically want to vomit." She mentioned that she had served as COO since before FTX was named and viewed the company as her child. She was also the last person to leave the Bahamas after Sam Bankman-Fried was extradited and lost all her assets in FTX, thus she has no intention of defending those responsible for all of this.Wang pointed out that the media is eager to tell the story of FTX's collapse due to the team's partying in the Bahamas, but her workplace was completely different. The core team of the company had fewer than 200 people at its peak, while other exchanges of similar size had thousands of employees, many of whom worked 16 to 18 hours a day for over three years with almost no time to sleep. She also questioned the portrayal of Caroline Ellison in the trailer, stating that she had worked with Caroline and had never seen her as aggressive as depicted in the trailer; she described her as quiet and gentle, often lost in her own thoughts. Most of the team only learned about Caroline's relationship with Sam through reports after the bankruptcy."The Altruists" consists of eight episodes and will premiere on Netflix on November 19, featuring Anthony Boyle as Sam Bankman-Fried and Julia Garner as Caroline Ellison. FTX collapsed in November 2022 due to a liquidity crisis, exposing its close financial ties with Alameda Research and issues of customer fund misappropriation. Bankman-Fried was convicted of seven counts of fraud and conspiracy in November 2023 and sentenced to 25 years in prison; Ellison pleaded guilty and cooperated with prosecutors, receiving a two-year prison sentence in September 2024.

Cryptocurrency market maker Wintermute today updated its market report, stating that multiple events such as the Federal Reserve's interest rate decision, the U.S. midterm elections, and third-quarter earnings reports are approaching, and the current narrow trading range of Bitcoin may soon be broken. If Bitcoin breaks above $87,000, it may confirm an upward breakout; if it effectively falls below $82,500, the price could further dip to just above $70,000.On the macro front, the overall CPI in the U.S. rose from 3.4% in August to 3.7%, with core CPI increasing by 0.3% month-on-month, higher than the market expectation of 0.2%, intensifying concerns about energy prices transmitting to core inflation. Wintermute pointed out that the recent rise in U.S. Treasury yields reflects more of a withdrawal of funds from crowded AI growth stock trades rather than an improvement in inflation expectations. The market currently expects the Federal Reserve to maintain interest rates at its meeting on October 28, but if hawkish signals are released, it may strengthen expectations for a rate hike in December, pushing up U.S. Treasury yields and suppressing risk assets.Internally, the cryptocurrency market shows a trend of funds concentrating on mainstream coins. The report indicates that Bitcoin's weekly decline was 1.99%, the Nasdaq index fell by 5.52%, and altcoins overall dropped by 5.69%. Funds continue to flow into BTC and ETH while withdrawing from most altcoins, with high beta and small-cap tokens facing more significant pressure. Wintermute believes that the current risk-reward ratio for mainstream coins is relatively more attractive, and a broad rally in altcoins may need to wait for Bitcoin to strengthen further.Wintermute also noted that the current implied volatility is relatively low, and with the Federal Reserve's decision and midterm elections approaching, the market may be underestimating the risk of subsequent volatility. The Federal Reserve's decision on October 28 will be a key catalyst in the near term, and the performance of AI-related companies' earnings reports will also influence the market's judgment on computing power investments, financing costs, and business models.

According to official news from Bitget, the platform announced the acquisition of the digital asset exchange and brokerage GMO-Z.com Cryptonomics (Thailand) Co., Ltd., headquartered in Bangkok. This acquisition involves the complete shares of the target company held by GMO Internet and its related subsidiaries.GMO-Z.com Cryptonomics (Thailand) holds licenses for digital asset exchange and brokerage business in Thailand. This acquisition will leverage its existing compliance foundation and local market experience to strengthen Bitget's localized operational capabilities in Thailand and further improve the strategic layout in the Southeast Asian market.Bitget CEO Gracy Chen stated that Thailand is an important digital asset market in Southeast Asia, and this acquisition will help Bitget establish a localized operational system, gradually expanding its global trading service capabilities in the Thai market while complying with local regulatory requirements.

According to a report by North Korea Biz on October 20, Samsung Electronics' foundry division has seen its 4-nanometer process capacity nearing full load due to an increase in customer orders, while the company is also expanding efforts to attract new customers for its 5-nanometer process. The report states that contracts for the most advanced 2-nanometer process with major global tech companies are still delayed, prompting Samsung to increase the utilization rates of its relatively stable 4-nanometer and 5-nanometer processes to improve profitability.The 4-nanometer process is used for smartphone application processors, artificial intelligence semiconductors, and high-performance computing chips. The report indicates that not all chips in the expanding artificial intelligence semiconductor market require the most advanced processes; the manufacturing costs of 4-nanometer and 5-nanometer processes are relatively low while still achieving high performance, making them suitable for certain artificial intelligence inference chips and application-specific integrated circuits.Regarding the 2-nanometer process, Samsung is in discussions with major global tech companies about production contracts, but some negotiations are taking longer than originally expected. In addition to yield rates, the most advanced processes also require comprehensive verification of energy efficiency, design assets, and stable mass production capabilities, which means a longer time frame from contract signing to mass production. Samsung views the 2-nanometer process as the core growth driver for its next-generation foundry business and plans to continue using the fully surrounded gate transistor structure first introduced in the 3-nanometer process to improve energy efficiency and performance.

Notion announced an upgrade to its AI features. Notion Agent can now be used on standalone computers and browsers, improving context management, while introducing a new "Review for me" mode with security checks, allowing tasks to run for up to 24 hours.The upgraded Auto model routing will balance quality, speed, and cost based on tasks. The company claims it has achieved results close to Opus 5.5 and Astra in over 20 common tasks, with an average cost reduction of about 90%. Notion also supports personal Agents connecting to existing ChatGPT subscriptions, and enterprises can enter private Alpha testing with built-in API key functionality.Notion MCP memory synchronization has been launched, and the feature for using skills through MCP will be available soon. AI usage will be incorporated into a new unified points system. The upcoming AI Command Center will provide usage tracking, spending limits and reminders, as well as model and Agent permission management.

According to South Korean media THE ELEC, Tesla and SpaceX, under Elon Musk, are in contact with South Korean materials, components, and equipment companies for the semiconductor manufacturing project Terafab. Some companies have signed non-disclosure agreements and are discussing supply categories. From October 13 to 15, relevant personnel visited about 10 South Korean company booths at Semicon West 2026 in San Francisco to confirm products and capacities and propose follow-up discussions, many of which have been ongoing for several months.ENF Technology, Asflow, and G&G Intech are involved in this initial contact, focusing on process materials, piping parts and valves, and wastewater reuse equipment, respectively. Mico's cleaning subsidiary Komico signed a tripartite non-disclosure agreement with Tesla and SpaceX about a month ago to discuss cleaning services for the Texas R&D test line. Unisem signed a non-disclosure agreement regarding environmental protection equipment such as exhaust gas treatment, while Dongjin Semichem is discussing materials such as diluents and phosphoric acid related to the Texas plant. Hanmi Semiconductor is discussing thermal compression bonding equipment, HPSP will supply a high-pressure hydrogen annealing device to the R&D line, and testing socket company ISC is exchanging samples and design information.Terafab is located in Texas and was announced to be jointly promoted by Tesla, SpaceX, and xAI in March of this year. The independent legal entity and equity structure have not yet been disclosed. The goal is to reach a monthly production of 1 million wafers within 10 years, with an initial investment of $16.8 billion and the hiring of over 3,000 people. SpaceX signed a tax reduction contract with Texas earlier this month and has begun construction. The industry expects the initial facility, which will produce 100,000 wafers per month, to be completed before 2030. Initial uses include Tesla's autonomous driving and robotics chips, as well as SpaceX's satellite and space data center chips.

Goldman Sachs stated that the speed at which hedge funds are selling off technology stocks is the fastest in ten years.

An alliance composed of core banking and instant payment software company Matera, embedded payment company Payfinia, and Solana Foundation conducted the first public live demonstration of the American National Standard ANSI X9.150 at Money20/20 USA in Las Vegas. The demonstration showed that a single QR code on an invoice allows customers to pay via FedNow, RTP network, or with USDC on Solana, with the business invoice records automatically updated afterward.The report states that X9.150 was approved by the American National Standards Institute's standards committee X9 in July 2026, providing a unified QR code payment format for banks, payment networks, and software providers, covering account-to-account payments such as FedNow, RTP, ACH credit transfers, Zelle, and stablecoins. In the live process, small businesses send invoices with X9.150 QR codes, and customers can scan them using their credit union banking app or pay and confirm with USDC using the Squads Altitude wallet, with funds arriving within seconds, and the ERP marking the invoice as paid.Carlos Netto, Co-founder and CEO of Matera North America: The company has open-sourced the X9.150 reference software because a standard built by only one company is not a true standard. Jamal Raees, General Manager of Payments at Solana Foundation: X9.150 provides American businesses with a single QR code that can be used across payment rails, allowing customers to scan and pay with USDC, marking the invoice as paid within seconds. Payfinia provides embedded payment support for nearly 30 community financial institutions and stated that testing has been completed using the Star One Credit Union mobile app. The report clarifies that this demonstration is not a product launch. Participants in the X9.150 QR code alliance include Matera, Payfinia, Zelle under Early Warning, and Solana Foundation.

The blockchain security research organization Asymmetric Research disclosed that there was a vulnerability in the governance program svmgov on the Solana chain: when validators did not participate in voting, independent votes submitted early by their delegators might not be counted in the final results. This vulnerability was reported to the Solana Foundation on July 10 and was fixed on the mainnet on August 3, ahead of the governance vote on August 24.Asymmetric Research estimated based on on-chain data that if the vulnerability had not been fixed, the approval rate of the SGP-0002 proposal, which aims to accelerate the decline of SOL inflation, could have dropped from the actual 67% to 66.65%, below the passing threshold of 66.67%. This vulnerability was fixed before the voting, and did not actually change the outcome of the proposal.

According to The Block, Citigroup Research stated in its latest report that Aave is a decentralized collateral liquidity ecosystem, representing one of the more significant real-world cases in tokenized financial infrastructure.Citigroup indicated that collateral liquidity could ultimately become one of the most important use cases for tokenization.

According to on-chain analysis platform Glassnode, the leverage level in the altcoin market remains high. Since the leverage rate peaked earlier this month, the prices of related cryptocurrencies have experienced a pullback, but over 40% of large-cap altcoins still have leverage rates close to the highest levels of the year.The proportion of mid-cap altcoins in a high-leverage state has risen to a year-to-date high. Glassnode points out that if prices continue to decline, a large number of long positions in the market may face the risk of being liquidated.