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Flash

first_img The US is reportedly requesting South Korean companies to invest in local memory chip factories and ensure supply

According to the Chosun Ilbo, in the context of the U.S. government increasing pressure on investment in South Korea, the U.S. has recently made demands to the South Korean government and companies to build storage semiconductor production facilities in the U.S. and ensure a stable supply of storage chips. In response to South Korea's promotion of a 800 trillion won semiconductor cluster plan, the U.S. has also informally expressed dissatisfaction, believing that South Korea is actively supporting domestic semiconductor investments while showing a negative attitude towards investing in the U.S. This is the first time the U.S. has mentioned the South Korean government's "super project" while pressuring for investment.Minister of Trade, Industry and Energy Lee Chang-yang also discussed related matters during his recent visit to the U.S. for investment negotiations. The South Korean government believes that the U.S. semiconductor investment demands are independent of the previously agreed $350 billion investment arrangement with the U.S., and plans to announce its first investment project in the U.S. in September. Domestic semiconductor companies are concerned that if they formally accept the U.S. request to establish factories while promoting the Hunan cluster, it may create a dual burden. Additionally, it is reported that Foreign Minister Park Jin spoke with U.S. Secretary of State Rubio that evening to exchange views on investments in the U.S. and bilateral relations.

first_img Samsung and SK Hynix strengthen their NAND base in China, advancing equipment investment before the end of the year

According to a report by ZDNet Korea, Samsung Electronics and SK Hynix plan to continue investing in equipment for NAND flash production lines in China until next year to strengthen local production bases. Since the first half of this year, Samsung has been advancing V9 NAND conversion investments at the Xi'an X2 production line, which features an advanced process with approximately 280 layers stacked, and is expected to achieve a monthly production capacity of 40,000 to 50,000 wafers. To stabilize mass production, the company has confirmed a supplementary investment plan, focusing on additional etching process equipment, with related procurement orders expected to be clarified around the end of the year, and the supplementary investment planned to be executed starting in the second half of next year.SK Hynix has been advancing equipment investments related to NAND product upgrades at its Dalian Plant 2 since the third quarter of this year, with a discussed scale of approximately 30,000 wafers per month. Key manufacturing equipment will begin arriving next month, with plans to complete deployment by the first half of next year. The Dalian plant is an asset acquired after SK Hynix took over Intel's NAND division in the second half of 2020. In 2022, a groundbreaking ceremony was held for the expansion of Plant 2, but equipment investment was temporarily halted due to market conditions; this investment is now being restarted.Industry insiders point out that the above arrangements aim to gradually expand advanced NAND capacity within China to meet the rapid growth in demand for high-end storage in fields such as artificial intelligence servers.

first_img Hyperliquid's policy center suggests to the SEC and CFTC to classify perpetual equity as securities futures

Hyperliquid Policy Center (HPC) submitted a letter of opinion to the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) stating that eligible equity perpetual contracts can be classified as securities futures. This category is jointly regulated by the two agencies, allowing exchanges to compete on execution quality rather than jurisdiction.HPC pointed out that there is still no clear classification for perpetual contracts under U.S. law (whether futures or swaps), and this fundamental issue remains unresolved. They possess characteristics of futures such as standardized terms, the ability to hedge positions, and forward value, although they do not have a fixed expiration date, but prices converge continuously through funding rates.The letter of opinion proposed four points: confirm that the definition of securities futures can encompass cash-settled equity perpetuals with futures characteristics; retain flexibility for product listings at trading venues; maintain consistency in classification between the two agencies; modernize the securities futures framework to accommodate new structures. HPC stated that in the past 10 months, the trading volume of Hyperliquid perpetual contracts has exceeded $48 billion, and a clear framework would help relevant products enter the U.S. market.

Large U.S. banking organizations propose to include customer identification requirements for the secondary market of stablecoins

The Bank Policy Institute (BPI) is an organization representing large banks such as JPMorgan, Bank of America, Wells Fargo, and Citi. BPI proposed that the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury should expand customer identification program requirements to the secondary market for stablecoins, covering exchanges and other platforms that establish direct account relationships with retail investors.BPI stated that the relevant exchanges and platforms engage in a significant amount of buying and selling activities within the payment stablecoin ecosystem, where most illegal activities related to stablecoins occur. If the proposal is incorporated into the rules, the relevant platforms will be required to collect customer information in accordance with the Bank Secrecy Act, and decentralized exchanges may also fall under regulatory oversight. The proposed rules by FinCEN indicate that transactions in the secondary market for stablecoins on the blockchain typically use anonymous or pseudonymous identities, and there are no centralized nodes for collecting identity information, limiting the ability of issuers to gather customer data from the secondary market. BPI has also opposed the current version of the Digital Asset Market Structure Bill along with other banking organizations.
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