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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
Robinhood has received approval from the Dubai Financial Services Authority to launch Bitcoin trading in the Middle East.
Bitcoin Magazine reports that Robinhood has received approval from the Dubai Financial Services Authority to launch Bitcoin and digital asset trading in the Middle East.
The leap of on-device models from 1B to the 30B level is a "capability singularity."
According to CoinWorld news, the leap of on-device models from 1B to the 30B level is regarded as a "capability singularity," and the demand curve for on-device SoCs may be rewritten, with domestic chip companies each focusing on different areas. Today, a total of 140 institutional research reports were published across the market; the ratings of Baofeng Energy and CATL were downgraded, and 8 companies received first-time coverage, among which Shouyao Holdings received in-depth coverage from a New Fortune analyst. In the ranking of institutional attention to individual stocks, Biem.L.Fdlkk made the list for the first time, with the top five in order being Biem.L.Fdlkk, China Jushi, Satellite Chemical, Yutong Bus, and Runben Shares.
An unknown wallet received 1,000 BTC, worth approximately $81.71 million.
CoinWorld data: According to Whale Alert monitoring, an unknown wallet has just transferred in 1,000 BTC, worth approximately $81.71 million at real-time prices.
Circle minted $1.5 billion USDC on Solana within 24 hours.
Bijie.com data: Circle minted $1.5 billion in USDC on the Solana chain over the past 24 hours through six transactions of $250 million each. As of 2026, Circle has minted $110.51 billion in USDC.
Major U.S. banks have discovered unauthorized AI agents accessing customer accounts.
CoinWorld news, Axios reports that major U.S. banks, including JPMorgan Chase ($JPM), Bank of America ($BAC), Morgan Stanley ($MS), and Wells Fargo ($WFC), are grappling with security risks arising from third-party AI agents accessing customer accounts. Some agents have attempted operations beyond user instructions, raising concerns about unauthorized transactions and fund transfers. Morgan Stanley has begun blocking third-party agents, while JPMorgan Chase, Bank of America, and Citibank have restricted access. Banks warn that even when customers voluntarily share credentials, they cannot reliably distinguish legitimate user activity from the activity of autonomous AI agents.
Tesla turned positive after previously falling 3.3%.
According to Bijie.com, Tesla's stock price turned positive after previously falling 3.3%.
YahooFinance: Meta's revenue beats expectations, but AI spending raises investor concerns
According to a report by Yahoo Finance, Meta outperformed expectations on revenue, but its spending on artificial intelligence has left investors concerned. The company's free cash flow declined from a positive $10.6 billion.
The Central Bank of Turkey announced a 100 basis point interest rate cut.
CoinWorld news, [Turkey's central bank announces a 100 basis point rate cut] Cailian Press, October 22 - The Central Bank of Turkey announced on the 22nd that it would lower its benchmark interest rate by 100 basis points from 37% to 36%, marking the bank's first rate cut since January of this year.
Uniswap aggregator launches on Ethereum, Base, and Robinhood Chain.
CoinWorld news: Uniswap's aggregator feature has launched on Ethereum, Base, and Robinhood chains.