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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
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.
Nasdaq-listed stocks with unchanged prices reported 287.
CoinWorld US stock data: The number of Nasdaq securities that closed flat on the day was 287. Compared with the same-caliber snapshot 24 hours earlier, this was up 19.09%; compared with the same-caliber snapshot 7 days earlier, it was up 1.06%.
1Password partners with OpenAI, Meta, and other giants to let AI Agents log in without knowing passwords.
1Password has announced partnerships with giants such as OpenAI and Meta to launch 1Password for agents, allowing AI Agents to log in to users' various website accounts without needing to know the passwords. When users shop online, the AI will request permission from 1Password to use a specified account, and after the user approves, 1Password will automatically fill in the password. This feature is available to individual and family subscribers hosted on 1password.com at no additional charge, but it is not yet supported in the European and Canadian data regions.
CZ: The threat of AI hackers to cryptocurrency is exaggerated.
According to CoinWorld news, CZ stated that everyone is worried about the threat of AI hackers to cryptocurrency, but the encryption technologies that the internet and banking systems rely on are even weaker. He pointed out that AI does not need to crack Bitcoin's cryptography to cause damage; leaked data has already made more phishing and social engineering attacks possible, and he reminded everyone to stay safe.
China Academy of Information and Communications Technology: Token service prices rebounded significantly in 2026.
According to a report from Bijie.com, the Artificial Intelligence Institute of the China Academy of Information and Communications Technology (CAICT) jointly released the "Large Model Token Service Performance Monitoring Report (2026)." The report points out that after two years of price wars, the prices of model services at home and abroad rose significantly in 2026. In China, the normalized average price in the second half of 2025 was 6.8 yuan, while the average price so far this year has been 13.46 yuan, an increase of nearly 100%. By comparison, foreign prices remain higher than domestic ones. The average normalized price of typical models released since 2026 is approximately 117.8 yuan.
Mizuho: Recent yen strength may be driven by safe-haven demand
According to a report from Bijie.com, Mizuho Bank analyst Hasegawa noted in a report that the recent strengthening of the yen may stem from safe-haven demand. He stated that fiscal concerns in France have significantly pushed up the Swiss franc, which has raised market vigilance over the possibility that the Swiss National Bank may take measures to limit further appreciation of the franc. Hasegawa believes this situation could prompt safe-haven funds to shift toward the yen. However, he also emphasized that Japan's own fiscal and monetary factors are crucial to whether the yen can rise further.
Dan Ives: A Tesla-SpaceX merger is a matter of time.
CoinWorld news, analyst Dan Ives stated that a merger between Tesla and SpaceX is a question of "when, not if." He noted that the data Tesla could bring to SpaceX would "greatly advance their ambitions." Ives believes that once Musk integrates all AI technologies together, Tesla's stock price must reach $500 to $550 per share.
Bit obtains approval from the Swiss Financial Market Supervisory Authority to launch the first spot Bitcoin ETF.
CoinWorld data: bit's Swiss asset management subsidiary bit am has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to launch Switzerland's first Bitcoin Fund ETF (ticker: BBIT) that directly invests in Bitcoin, expected to list on the SIX Swiss Exchange in November. The fund adopts a Swiss collective investment scheme structure, with assets held in independent segregation, is open to investors, and allows Bitcoin allocation through ordinary Swiss bank accounts.
Bitcoin's market capitalization share stands at 59.45%.
CoinWorld data: Under CoinWorld's unified market methodology, Bitcoin's market capitalization accounts for 59.45% of the total cryptocurrency market capitalization.