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first_img Goldman Sachs $100 billion Treasury Fund FTIXX connects to Lynq network

Goldman Sachs has connected its approximately $100 billion government bond fund FTIXX to the digital asset settlement network Lynq, providing a new subscription channel for institutional-level crypto companies. The fund will be listed on Lynq, with trading handled by tZERO Securities, a broker-dealer registered with the U.S. Securities and Exchange Commission. This is the first external fund introduced to the Lynq network, which previously only had a single investment product.Unlike most blockchain-based fund products on Wall Street, FTIXX has not been tokenized. BlackRock's BUIDL is a tokenized fund, and Franklin Templeton offers tokenized shares of money market funds through BENJI, while Goldman Sachs retains the traditional fund format of FTIXX, with Lynq opening new access channels for digital asset companies. Lynq CEO Jerald David stated that there is a convergence occurring between traditional market participants and digital asset market participants.For institutions using Lynq, FTIXX provides a place to store cash and earn returns during trading gaps, redeemable when needed. David mentioned that clients have been looking for government bond assets on the platform that offer yields different from existing tools. Lynq's partners include B2C2, Wintermute, Galaxy, FalconX, Crypto.com, and Fireblocks. The network operates on a private permissioned Avalanche Layer 1 blockchain and has connected over 30 institutional digital asset companies, with assets exceeding $89 million.

Goldman Sachs: Korean retail investors are flowing funds into cryptocurrency, and KOSPI's upward movement relies more on foreign investment

Goldman Sachs Global Investment Research Department's South Korea stock analyst Chris Cha stated in a report on September 23 that KOSPI has the conditions for a short-term tactical breakout, but the continuous flow of liquidity from South Korean retail investors into the cryptocurrency market will make the index's subsequent upward movement more reliant on foreign capital and local institutions reconfiguring. The report noted that concerns about the Federal Reserve's interest rates have been partially digested by the market, and risk appetite has shifted towards proxy AI themes.The report pointed out that South Korean memory chips provide fundamental support, with fourth-quarter DRAM contract prices expected to grow double digits quarter-on-quarter, and the ramp-up of HBM4 capacity will continue to limit the supply of standard server DRAM. Samsung Electronics' large shareholder returns, continuous buying by institutions, and foreign capital turning into net buying may drive KOSPI towards the resistance zone of 7000 to 7200 points.The report also indicated that the capacity of local South Korean retail investors to absorb has weakened. After Bitcoin returned to $85,000, cryptocurrency trading in South Korea has heated up. According to DefiLlama data cited in the report, Upbit's single-day spot trading volume on June 13 was approximately $770 million, which rose to $1.817 billion on September 22, an increase of about 136%. Based on the total trading volume of $3.27 billion on that day across South Korea's five major trading platforms, Upbit alone accounted for over half. Goldman Sachs believes this will make KOSPI more reliant on foreign and institutional buying in the future, and October is a critical window to test whether foreign capital will continue to increase its investment in South Korean semiconductor and AI assets.

first_img Major manufacturers increase orders, TSMC's 2-nanometer monthly production capacity is expected to reach 120,000 wafers by the end of the year

According to the Economic Daily, major companies such as Apple, NVIDIA, AMD, Qualcomm, and MediaTek are racing towards AI and high-performance computing, recently increasing their orders for TSMC's 2-nanometer family capacity by 10% to 20%. As a result, TSMC is accelerating the expansion of its 2-nanometer family, with progress exceeding expectations. TSMC has consistently refrained from commenting on customer information and market rumors.The market originally estimated that TSMC's monthly capacity for the 2-nanometer family would be around 90,000 to 100,000 wafers by the end of this year, with expectations for continued double-digit growth to reach 110,000 to 140,000 wafers by 2027. Industry sources indicate that due to strong customer demand, the monthly capacity is expected to surge to 120,000 wafers by the end of this year, achieving the originally set 2027 target ahead of schedule. Sources say that in response to the demands from Apple and non-Apple customers, the speed and scale of new capacity for the 2-nanometer family are setting new records, far exceeding the ramp-up speed of the 3-nanometer family in its first year.TSMC's Senior Vice President and Co-COO, Wei Chen-Hao, stated at this year's North America Technology Forum that in response to strong demand from AI and other sectors, there will be five 2-nanometer fabs ramping up simultaneously for the first time this year, including two in Hsinchu and three in Kaohsiung; the wafer output in the first year of 2-nanometer will increase by 45% compared to the first year of 3-nanometer in 2023; the compound annual growth rate of 2-nanometer capacity from 2026 to 2028 will reach 70%. TSMC's 3-nanometer capacity in the Southern Taiwan Science Park is expected to reach nearly 180,000 wafers per month in the fourth quarter of this year, and three new 3-nanometer fabs are being established in Taiwan, Arizona in the United States, and Japan. The second fab in the United States is planned to begin mass production in the second half of 2027.
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