Tom Lee: Stock AI Selloff, Anthropic IPO, and Post-Hack Fund Returns May Ignite Crypto Selling Pressure.
BitMine chairman Tom Lee said recent crypto selling pressure may stem from margin calls caused by the sell-off of AI and semiconductor stocks, investors selling stocks and crypto to finance purchases in Anthropic's upcoming IPO, and account holders converting funds recovered from the $6.3 billion hack into cash or stablecoins. He added that concerns about the impact of artificial intelligence on cyber security and the American scrutiny of chip sales to Asia further weighed on market sentiment.