News Square
Global Crypto News · Real-time Aggregation
📚 Deep Analysis
More →Ken Griffin Says AI Is 'Almost Certainly' in a Bubble—And Compares GPUs to Airline Seats
Ken Griffin, founder of the Wall Street giant Citadel, <a href="https://www.marketwatch.com/story/ai-stocks-are-probably-in-a-bubble-but-might-be-worth-holding-onto-says-citadels-ken-griffin-87f535ce" target="_blank" class="sc-adb616fe-0 dJryYS" rel="nofollow">said</a> Tuesday that investors are “almost certainly” in an AI bubble—though he isn’t telling them to dump their AI stocks. “What’s left in the wake of these bubbles, if we want to use that word, is often game changing for the world. And the companies that are on the other side of that bubble are the market leaders for decades to come,” Griffin said at Citadel’s Future of Global Markets Conference in New York on Oct. 20 This reaches beyond tech investors, since the AI buildout has <a href="https://decrypt.co/359175/nvidia-earnings-steady-markets-ai-spending-debate-intensifies" target="_blank" class="sc-adb616fe-0 dJryYS" rel="nofollow">underpinned equity markets</a> over the past year, so many index funds and retirement accounts hold a slice of it. A bubble is what happens when prices climb far faster than the businesses behind them can justify, until reality catches up. Citadel is a hedge fund, a private firm that invests money for wealthy clients and institutions. But the fact that it seems like a bubble isn’t <i>that</i> big a deal if you look at the big picture, according to Griffin. “Any radical transformation of our economy is generally intertwined with a bubble,” he said, recalling the internet boom and adding that he wishes he had kept his Amazon stock. The companies that emerge on the other side of a bubble tend to lead markets for decades, he argued, though he stopped short of predicting a collapse. His own firm is a case study: Griffin said AI agents, software that carries out multistep tasks on its own, cut some high-level Citadel research from weeks to a couple of hours. Griffin compared GPUs, the graphics chips that many companies use to train and run AI models, to airline seats. Both have a very low marginal cost to run, meaning the extra expense of serving one more customer is tiny, so prices can collapse once supply outstrips demand. He pointed to the telecom boom around 2000, when companies laid more fiber-optic cable than demand required and communication prices fell. He also doubted that chips five or six years old, which still earn rental rates he called extraordinary, will keep doing so for another five or six years. Buyers are getting pickier, Griffin said, sorting which jobs justify premium models from OpenAI and Anthropic and which can run on cheaper open-source alternatives, meaning models anyone can download and run on their own computers. Corporate America has been uneven at extracting value from AI, he added, with companies studying their bills from the labs and asking where the productivity is. Gartner forecasts worldwide<a href="https://www.gartner.com/en/newsroom/press-releases/2025-09-17-gartner-says-worldwide-ai-spending-will-total-1-point-5-trilli
Tokyo Stock Exchange data glitch criticized for misleading Kioxia investors
A set of erroneous data published by the Tokyo Stock Exchange (TSE) showed a sharp drop in leveraged long positions in Kioxia Holdings, leading some investors to mistakenly believe that selling pressure had eased. The data showed that as of October 20, Kioxia's margin buying outstanding positions had decreased by 15.65 million shares from the previous day to 31.17 million shares. The exchange corrected the data the next day, showing that margin buying positions had actually increased to 46.94 million shares. Tomoichiro Kubota, chief market analyst at Matsui Securities, said the erroneous data made it appear that Kioxia's margin buying outstanding positions had fallen sharply, so the stock price might be near a bottom. He noted that margin buying positions need to decrease for the stock price to rebound, but in reality that signal has not yet appeared.
India's crude oil imports rose 10.2% year-on-year to 22.3 million tons in September; exports fell 48.7% year-on-year to 800,000 tons.
CoinWorld news: India's crude oil imports in September increased by 10.2% year-on-year to 22.3 million tons, while exports decreased by 48.7% year-on-year to 800,000 tons.
The Seoul court held its first hearing on Bithumb's lawsuit against the FIU.
Bithumb News: The Seoul Administrative Court held its first hearing on October 22 in the lawsuit filed by Bithumb, South Korea's second-largest cryptocurrency exchange, against the Korea Financial Intelligence Unit (FIU). The FIU alleges that between August 2022 and April 2025, Bithumb conducted 45,772 transfer transactions with 18 undeclared virtual asset service providers, and restricted its new customers from transferring crypto assets externally for six months. Bithumb argues that transactions exceeding 1 million Korean won were already blocked from being transferred to undeclared service providers through the travel rule, meaning actual violations were zero; transactions below that amount were not subject to the travel rule at the time, and there was no legal basis for obtaining information from receiving exchanges. The FIU also failed to specify concrete blocking measures, and Bithumb claims the penalty is excessive. The court requested specific explanations regarding the reasons for insufficient control measures and whether there was intent or gross negligence, with the next hearing scheduled for January 28, 2027.
The 4-hour trading volume ratio of ETH contracts to spot is 13.6.
Bijie data: Over the most recent 4 full hours, ETHUSDT perpetual contract trading volume was 13.6 times the spot trading volume. Compared with the same-caliber snapshot 24 hours ago, it decreased by 4.5237; compared with the same-caliber snapshot 7 days ago, it decreased by 0.3969.
U.S. options market volume was 12,747,529 contracts.
CoinWorld US stock data: US options market volume was 12,747,529 contracts, of which 6,831,027 were calls and 5,916,502 were puts.
The 4-hour trading volume ratio of BTC contracts to spot is 8.02.
CoinWorld data: Over the most recent 4 complete hours, BTCUSDT perpetual contract trading volume was 8.02 times spot trading volume. Compared with the same-caliber snapshot 24 hours earlier, it fell by 2.4403; compared with the same-caliber snapshot 7 days earlier, it rose by 1.437.
Analyst: AI crash has limited impact on Bitcoin
CoinWorld news, according to U.Today, CryptoQuant CEO Ki Young Ju said that a potential collapse of the artificial intelligence (AI) bubble may not cause much harm to Bitcoin (BTC). He pointed out that Bitcoin did not significantly participate in the rapid rise in AI stock prices, so a sharp correction in the AI sector would be relatively harmless to Bitcoin. Ju believes that investors may have already sold Bitcoin to fund their AI stock investments, and as concerns about overvaluation in AI intensify, there could be a flow of funds back into Bitcoin. He added that an AI crash does not necessarily have a bullish or bearish impact on Bitcoin, and the two appear to be unrelated.
AAVE launches its first externally curated market on V4
CoinWorld news, according to Cointelegraph, AAVE today launched its first externally curated market on its V4 version, allowing users to borrow rlusd, PYUSD, and ousd on Ethereum using yield-bearing and blue-chip collateral.
Bitcoin Core adjusts its security vulnerability disclosure policy.
CoinWorld news, according to Cointelegraph: The Bitcoin Core team has adjusted its security vulnerability disclosure policy. For "easy-to-discover" vulnerabilities, fixes will be provided as quickly as possible across all still-maintained major versions, with a security advisory published at the same time, including vulnerabilities that can be found through simple large language model prompts alone. Developer Antoine Poinsot stated that such vulnerabilities are easy to rediscover, so long-term confidentiality has limited value and instead delays the release of fixed versions. Other vulnerabilities will still be disclosed according to severity: low-risk vulnerabilities will be disclosed two weeks after the release of the major version containing the fix, medium- and high-risk vulnerabilities will be disclosed two weeks after the last affected version stops being maintained, and critical vulnerabilities may use a special handling procedure.