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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
U.S. Ambassador to the United Nations: The current "United Nations Interim Force in Lebanon" model is unsustainable.
CoinWorld news, U.S. Ambassador to the United Nations: The current "United Nations Interim Force in Lebanon" model is unsustainable. Consultations are being held with France, Israel, and Lebanon on an alternative force to the United Nations Interim Force in Lebanon.
HSBC launches Hong Kong dollar stablecoin Redcoin for 3.3 million PayMe users.
CoinWorld news, according to Cointelegraph, HSBC has begun rolling out its HKD-backed stablecoin Redcoin to more than 3.3 million PayMe users.
The VIX volatility index stands at 19.03 points.
CoinWorld US stock market data: The VIX volatility index closed at 19.03 points. Compared with the same-caliber snapshot 24 hours earlier, it rose 2.35 points; compared with the same-caliber snapshot 7 days earlier, it rose 2.57 points.
Economist: The European Central Bank will carry out its final rate hike in December.
According to CoinWorld news, economists expect the European Central Bank to pause rate hikes next week and then deliver a final rate increase in December. This view diverges from market bets, which anticipate more rate hikes ahead. In a survey, the vast majority of respondents believed that the ECB will raise the deposit rate by 25 basis points to 2.75% at its final meeting in 2026 and keep it at that level until May 2028. Bas van Geffen, an economist at Rabobank, said there are still no signs that energy inflation is spreading into broader wage and price-setting behavior, so the ECB does not need to accelerate the pace of rate hikes and can fully afford to wait until December to act.
HSBC launches its first stablecoin, redcoin, which will be usable within the year for subscribing to tokenized investment products.
According to CoinWorld news, Caixin reported on October 23: HSBC today launched its first stablecoin "HSBC Redcoin" (abbreviated as rchkd) on PayMe by HSBC. Within days of launch, more than 3.3 million PayMe users will be able to open a stablecoin wallet within the app, supporting person-to-person transfers and person-to-merchant payments. HSBC also plans to add stablecoin wallet functionality to the HSBC HK Mobile Banking app later this year, after which customers can use HSBC Redcoin to subscribe to tokenized investment products, including a new share class of the HSBC Hong Kong Dollar Money Market Fund. This is also one of the products corresponding to the first two stablecoin licenses approved by the Hong Kong Monetary Authority. The other license is held by Anchorpoint Financial, a joint venture led by Standard Chartered, whose Hong Kong dollar stablecoin HKDAP was launched earlier in August this year.
CalPERS trims holdings in major tech stocks as the AI rally slows.
According to a CoinWorld report, Cailian Press reported on October 23 that the largest U.S. public pension fund, the California Public Employees' Retirement System (CalPERS), significantly reduced its holdings in tech giants in the first half of 2026, cutting the number of directly held "Magnificent Seven" stocks by 26%. This move indicates that, as global concerns over the sustainability of artificial intelligence investment intensify, large institutional investors are actively reducing market concentration risk.
The proportion of active buy trades in BTC contracts over the past 4 hours is 54.61%.
CoinWorld data: Over the most recent 4 complete hours, the taker buy share of BTCUSDT perpetual contract trades was 54.61%, while the taker sell share was 45.39%, with taker buying dominating. Compared with the same-methodology snapshot 24 hours earlier, it rose by 9.0538 percentage points; compared with the same-methodology snapshot 7 days earlier, it rose by 5.9152 percentage points.
Arc browser announces shutdown: a million weekly active users still couldn't buy it a future.
According to news from Bijie, the company behind the Arc browser has announced that it will completely shut down the macOS and Windows versions of Arc on December 22, 2026, and has already closed new user registration. Starting November 23, mobile AI features, login, and tab syncing will also be phased out. Going forward, the team will fully shift its focus to the AI browser Dia. Arc was launched in 2022, initially available only to Mac users via invitation, fully opened up in 2023, and gradually expanded to Windows and mobile platforms in 2024. Although Arc had more than 1 million weekly active users, it failed to achieve widespread adoption. Founder Josh Miller admitted in 2025 that Arc was too complex for ordinary users and had too high a learning curve. The team decided to stop maintenance on the grounds that browser security in the AI era requires sustained investment, and engineering and security resources must be concentrated on Dia.
BTC liquidations totaled 98.4074 million USD over the past 24 hours.
CoinWorld data: BTC's rolling 24-hour liquidation amount is approximately 98.4074 million USD, involving about 6,382 liquidated accounts. Compared with the same-caliber snapshot 24 hours ago, it is down 23.79%; compared with the same-caliber snapshot 7 days ago, it is up 3.6%.