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Flash

Zhao Changpeng: Bitcoin itself will not weaken or strengthen government power; it depends on how the government responds

Zhao Changpeng stated at the "Bitcoin Asia 2026" conference in Hong Kong that Bitcoin itself does not weaken or strengthen government power; what truly matters is the choices made by the government. Historically, weak governments have sometimes led to better economic performance. For example, the U.S. government is relatively weak, yet it has created one of the strongest economies in the world; after the current SEC chairman relinquished some regulatory power, the industry actually experienced growth, while former chairman Gary Gensler's attempts to control everything stifled industry growth.He mentioned that Bitcoin, as a decentralized technology, allows individuals to have more sovereignty, but its privacy design has flaws, and on-chain transactions can be easily tracked; governments can choose whether to utilize these characteristics. For instance, declaring Bitcoin ownership illegal or imposing a 36% tax on every transaction would stifle industry development. The government may seem to have significant power, but a zero tax rate still results in zero revenue, while taxing a trillion-dollar market at 6% would yield substantial income.He also noted that most governments have relatively recognized Bitcoin, but many countries still lack a regulatory framework for cryptocurrencies. Among government officials, those who understand Bitcoin remain a minority, and in some countries, the older generation's dominance leads to a more conservative attitude. However, he does feel that a shift is occurring, despite some still holding the biased view that Bitcoin is primarily used by drug lords.

first_img Changxin and Yangtze Memory Technology validate quality with Apple and resell to North American cloud services

According to DIGITIMES, Changxin Memory and Yangtze Memory continue to expand, and recently Apple is actively seeking to introduce the two Chinese memory supply chains, drawing attention to their entry into Apple's supply system. Industry insiders reveal that the two manufacturers are actually using Apple to prove that the quality of Chinese DRAM and NAND Flash has reached international standards, while secretly expanding their cloud and enterprise market share through third-party assembly for export to North American neocloud operators.Changxin Memory's parent company, Changxin Technology, has completed fundraising of 29.5 billion yuan, while Yangtze Memory plans to raise about 33 billion yuan through an IPO for production line upgrades and R&D. Yangtze Memory has turned profitable in 2024, with a net profit attributable to the parent company reaching 33.379 billion yuan in the first quarter of 2026; its third-phase new factory will begin production ahead of schedule in the fourth quarter of 2026, with a total monthly production capacity of 100,000 wafers, of which about 20% will be trial-produced LPDDR, becoming its first DRAM base. The supply chain indicates that the two companies are expected to increase the self-sufficiency rate of domestic memory in China to over 50% by the end of 2027 to 2028.Yangtze Memory sells NAND to third-party module manufacturers and assembles them into enterprise-level SSDs to avoid location sensitivity; Changxin Memory has already obtained certifications from small and medium-sized cloud operators in the U.S., Canada, and other regions. U.S. private enterprises can, in principle, procure from the two companies, with the entity list primarily restricting their access to U.S. technology, but not completely prohibiting private procurement. Cloud operators also reduce compliance risks through methods such as renting computing power or holding assets through third parties. The industry believes that Apple's influence on supply and demand in the industry is declining, and the two companies have no intention of supplying Apple in large quantities or engaging in price competition, making it difficult to meet Apple's demand in the Chinese market in the short term.

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.

Yangtze Memory Technologies' parent company is expected to raise 33 billion yuan through its IPO on the Sci-Tech Innovation Board

On August 24, according to Reuters, China's largest flash memory chip manufacturer Yangtze Memory Technologies Co., Ltd. (YMTC) and its parent company Yangtze Memory Technologies Holdings (CCSH Corporation) have had their listing application accepted by the Shanghai Stock Exchange's Science and Technology Innovation Board, with the market expecting the company to go public next year. This IPO is expected to raise 33 billion yuan (approximately 4.9 billion USD). CCSH plans to issue between 1.98 billion and 2.43 billion new shares.The prospectus shows that the company's revenue in the first quarter of 2026 (January to March) reached 47 billion yuan, nearly a fivefold increase year-on-year; net profit was 33.38 billion yuan, more than double the net profit of 14.21 billion yuan for the entire year of 2025. YMTC's factories are currently operating at near full capacity and are continuously expanding sales in the tightening NAND flash memory market. The average selling price of NAND flash memory in the first quarter of 2026 reached 2.73 times the average level of 2025, and the gross profit margin also significantly increased from 35.3% in 2025 to 76.8%.CCSH plans to use 20.8 billion yuan of the funds raised from this listing to expand production lines, and an additional 12.2 billion yuan for research and development of the next generation of NAND flash memory and high-speed storage products.
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