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
The Chairman of South Korea's Financial Services Commission supports tokenized securities trading.
Coin World news, according to edaily, Lee Eog-weon, chairman of South Korea's Financial Services Commission, said on October 22 during a comprehensive audit of the National Assembly's Political Affairs Committee that he agrees with the proposal to use digital asset exchange technology and infrastructure to conduct tokenized securities trading, and that research will be carried out in light of market conditions, investor protection, integration of license categories, and concurrent business arrangements. South Korea's amendments to the Electronic Securities Act and the Capital Markets Act, which promote the institutionalization of tokenized securities, will take effect on February 4, 2027. Industry participants have also proposed establishing a comprehensive exchange that can simultaneously trade crypto assets, tokenized securities, RWAs, and stablecoins, while retaining investor protection and information disclosure requirements corresponding to each type of asset.
The long-to-short ratio of BTC large holder accounts is 2.2468.
BiJie Network data: The latest 4-hour snapshot of BTCUSDT shows that among the top 20% of accounts by margin balance, the long-short account ratio is 2.2468, with more net long accounts among large holders. Compared with the same-caliber snapshot 24 hours ago, it is up 1.1433; compared with the same-caliber snapshot 7 days ago, it is up 0.6648.
Copper prices are set to fall this week, weighed down by a selloff in AI-related stocks.
Copper prices are set for their third weekly decline in four weeks as a selloff in artificial intelligence-related stocks weighs on the market. As the tech stock rout intensifies, overall market risk appetite has been hit, and copper — a metal widely used in data centers and power infrastructure — has not been spared. In London, copper futures traded above $14,150 per ton, down nearly 2% for the week, extending a pullback from a record high set in September. On Friday, the global tech selloff deepened as earnings from major technology companies failed to convince investors that the "AI boom" can be sustained. Analysts said the equity selloff is putting "enormous pressure" on metals ranging from copper to gold. Even so, copper is still up about 14% year to date.
Gold falls over 2.8% to a three-month low, SPDR cuts holdings by 11.97 tons.
CoinWorld data: On October 23, London spot gold fell more than 2.80%, touching a low of $4,020, the COMEX New York gold December contract closed down 2.16%, and the SHFE Shanghai gold main contract closed down 1.88% in the night session. A selloff in the U.S. stock market's AI sector triggered demand for liquidity, and the world's largest gold ETF, SPDR, reduced its holdings by 11.97 tons in a single day to 1,045.64 tons. The number of initial jobless claims in the United States fell to 194,000 last week, and pending home sales contracts in September fell 7.3% month on month. The U.S. and Israeli militaries are formulating plans for military strikes against Iran's energy and nuclear facilities, increasing uncertainty in the Middle East situation, and market pricing of rate hike expectations has risen. The strong performance of this data weakened market concerns about an economic recession and provided solid macroeconomic support for the Federal Reserve to maintain a high interest rate policy. The continued strength of the job market has forced investors to reassess the path of rate cuts, thereby suppressing demand for allocations to safe-haven assets.
Google launches ACE service: providing dedicated workstations for AI agents
CoinWorld news, Google announced on October 22 the launch of the Agent Compute Engine (ACE), which provides AI agents with isolated hardware-level microVMs to securely execute code, invoke tools, and complete multi-step tasks. The ACE service can automatically suspend the computing environment when an agent is idle, freeing up resources, and can resume in under 500 milliseconds. The service was initially used to support the Gemini platform and Google's internal model evaluations. In the future, developers will be able to use ACE through Google Cloud to control the images, identities, and lifecycles of agent environments.
Concerns about artificial intelligence have pushed global credit spreads to a 17-month high.
Global credit markets saw risk-off sentiment due to concerns over artificial intelligence, with credit spreads rising to a 17-month high. Affected by the sell-off in AI-related stocks and geopolitical tensions, investors flocked to safe-haven assets. On Friday, spreads on Asian high-grade corporate dollar bonds widened to their highest level since July last year, and the yield premium on global corporate bonds surged sharply to 129 basis points, marking the widest spread since May 2025. Growing market concerns over the pace of debt-financed AI-related spending have triggered market turbulence. Citadel Securities CEO Griffin warned of a bubble, while Blackstone President Jon Gray said market demand is showing "almost parabolic" growth.
IRYS rose to $0.02793, hitting a new 3-month high.
According to data from Bijie.com: The IRYS/USD trading pair on Coinbase Pro reached a price of $0.02793, hitting a nearly 3-month high, rising 27.87% within 24 hours, with a trading volume of $3.27 million. After the price hit a new high, the market expects that a price correction may occur. (Research Institute)
Polymarket解雇CMO，Chainlink与LG集团合作
CoinWorld data: According to Cointelegraph, Polymarket has fired Chief Marketing Officer Matthew Modabber following an internal investigation. Chainlink has partnered with LG CNS to build compliant digital asset infrastructure for South Korea's $68 billion market. The U.S. Treasury Department has proposed restricting AI and high-tech investments in countries such as China and Russia. OpenAI is close to a $30 billion funding round at a valuation of $1.25 trillion and is expected to pursue an IPO. A new lawsuit alleges that Trump and World Liberty Financial illegally profited more than $2 billion. Morgan Stanley, Bank of America, JPMorgan Chase, and Wells Fargo are among those working to control the risk of unauthorized AI agents operating from client accounts. Robinhood stock tokens have launched on Morpho, and CZ said that no crypto wallet is 100% safe, calling on users to manage risk. Tesla and SpaceX did not sell any Bitcoin in the third quarter, holding 30,221 coins worth approximately $2.54 billion.
Thailand's Securities and Exchange Commission: Has not yet received formal applications for Bitcoin and Ethereum ETFs.
The Securities and Exchange Commission (SEC) of Thailand stated that although several asset management institutions have consulted about spot Bitcoin and Ethereum ETFs, no formal applications have yet been received, and it cannot confirm whether the relevant products can be listed in 2026. The new framework, effective October 16, allows licensed asset management companies to establish passive ETFs tracking a single eligible asset, currently covering Bitcoin and Ethereum, with an average annual net exposure of at least 80% required to be invested in the tracked asset. The products may only be traded on the Stock Exchange of Thailand and must use SEC-approved digital asset custodians; securities companies may not provide margin financing. After listing, retail investors may participate, but they must complete risk education and confirm the relevant risks.