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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.

Finance

KOSPI faces rebound test as Samsung Electronics and SK Hynix shareholder returns in focus

South Korea\'s stock market will test the scope for a rebound this week as investors weigh the U.S. Federal Open Market Committee meeting and major earnings at home and abroad. With doubts persisting about the profitability of AI investment, semiconductor results and future investment plans are expected to shape sentiment. SK Hynix reports third-quarter earnings on Oct. 28 and Samsung Electronics releases final third-quarter figures on Oct. 29, with attention on HBM demand, capex and shareholder returns.

AI & Enterprise

Tech Insight: Keep SaaS strengths but ditch the SaaS playbook

Shane Hegde, co-founder and CEO of creative asset management platform Air, said companies should keep SaaS strengths while abandoning the traditional SaaS playbook in the AI era. He described how Air’s initial AI push fell short because it remained trapped in SaaS habits. Air then shifted its core metric to Action Credit Units, tied fees to AI usage, refocused customer teams on driving AI adoption and changed product culture to engineer-led development. He said usage and growth rose sharply.