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Crypto

Bitcoin holds $80,000 after AI-driven stock selloff wipes out $400 million in long positions

Bitcoin briefly fell below $80,000 over the weekend, touching $79,280 before recovering. The move followed further declines after a stock selloff linked to concerns over fundraising in the AI industry. Liquidations totalled $436.4 million over four hours, with long positions accounting for $404.2 million. U.S. spot bitcoin ETFs saw $635 million in net outflows on Oct. 22. Separately, Arthur Hayes said he closed directional positions for Maelstrom.

AI & Enterprise

Google former CEO Eric Schmidt held about 1 percent stake in Anthropic, report

Former Google CEO Eric Schmidt is estimated to hold about a 1 percent stake in AI startup Anthropic, TechCrunch reported. It said Schmidt invested tens of millions of dollars in Anthropic’s Series A round in 2021. The stake would be about half that of Anthropic co-founder and CEO Dario Amodei’s 2 percent holding. TechCrunch cited an upper estimate of up to $2 trillion for Anthropic’s IPO valuation.

Finance

Samsung Securities family office tops 200 families, 55 trillion won in assets

Samsung Securities said on Tuesday its family office for ultra-high-net-worth clients had surpassed 200 families and 55 trillion won in client assets as of early September. The service targets clients with at least 100 billion won in financial assets and offers integrated management covering investment, tax and succession. The company said inflows of exit owners rose, and it is expanding investment management, committee advisory teams, OCIO mandates and heritage solutions, while linking investment banking services for corporate clients.