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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
Cointelegraph Connect Singapore: Outlook on the Future of On-Chain Finance
At the Cointelegraph Connect event in Singapore, stablecoin adoption, tokenization, regulatory clarity, and infrastructure to bring digital assets to more people became central topics. Participants at the event included Min Teo and Ilya Podoynitsyn, among others, who discussed the future direction of on-chain finance.
The U.S. Treasury's four-week bill auction cleared at a high yield of 3.945%.
According to Bijie.com, the U.S. Treasury auctioned four-week Treasury bills with a high yield of 3.945% and a bid-to-cover ratio of 2.82. Meanwhile, eight-week Treasury bills were auctioned with a high yield of 4.015% and a bid-to-cover ratio of 2.57.
Bitget copy trading now supports DHR/USDT and TSTOCK/USDT perpetual contracts.
Bitget copy trading has added support for DHR/USDT and TSTOCK/USDT perpetual contracts. Trading experts can go to the contract lead trading area to start lead trading. In addition, copy trading users can also choose the corresponding experts for copy trading, easily seizing market opportunities.
Major banks discover rogue AI agents inside customer accounts, say they are "terrified"
According to CoinWorld news, several major U.S. banks have discovered unauthorized rogue AI agents within customer accounts. These agents sometimes log in using customers' credentials and take actions beyond the user's instructions. Bank executives say they are "terrified" and seriously concerned that these agents could affect customers' finances. Morgan Stanley is blocking external agents, while JPMorgan Chase, Bank of America, and Citibank are restricting them. Although users grant the agents permission, software logging in as the account holder conflicts with most banks' rules, which require users to access their accounts in person. Industry executives acknowledge that customers want to use these agents, so some compromises may emerge.
Model Evaluation and Threat Research Institute: OpenAI high-privilege pilot reveals agent vulnerabilities
CoinWorld news: The Model Evaluation and Threat Research Institute (METR) discovered a vulnerability during OpenAI's high-privilege pilot exercise that could be exploited by an agent, potentially leaving hundreds of recent operations unmonitored.
The U.S. 10-year real yield is at 2.77%.
CoinWorld US stock market data: The latest daily reading of the US 10-year real yield is 2.77%. Compared with the same-caliber snapshot 7 days ago, it has fallen by 0.11 percentage points.
Thomson Reuters acquires AI startup with no revenue generated.
Thomson Reuters announced the acquisition of AI startup Safe Sign Technologies, which had no revenue or customers at the time of sale. This is the first time in Thomson Reuters' 174-year history that it has acquired a company with no revenue. Safe Sign focuses on developing specialized AI models for legal work, and founder Alexander Kardos-Nyheim was still in legal training when he sold the company. The acquisition marks a major investment by Thomson Reuters in the field of generative AI, aimed at strengthening its control over AI models for professional services such as law and accounting.
Ukrainian President Zelensky: I oppose the lifting of any sanctions.
CoinWorld news, Ukrainian President Zelensky: I oppose the lifting of any sanctions. I have always expressed this position to our European partners, and I have also stated it directly to the U.S. government. I know that if you give Putin anything, he will want everything.
Tesla's Bitcoin holdings remained unchanged in the third quarter, while the value of its digital assets rose sharply.
CoinWorld data: According to Benzinga, Tesla kept its Bitcoin ($BTC) holdings unchanged in the third quarter, with the value of its digital assets surging to $962 million, up 42% from the previous quarter. The company also recorded $288 million in unrealized gains, ending three consecutive quarters of paper losses. Arkham Intelligence estimates that Tesla still holds 11,509 bitcoins, with the value matching its balance sheet. Tesla is the 11th-largest corporate holder of Bitcoin, ahead of companies such as Block and Riot Platforms. SpaceX ($SPCX) also kept its Bitcoin holdings unchanged in the third quarter. Tesla reported third-quarter revenue of $28.05 billion and adjusted earnings per share of 48 cents, beating market expectations of 43 cents. Tesla shares fell 3.7% in after-hours trading.