Tom Lee: AI Stock Selloff, Anthropic IPO, and Post-Hack Fund Returns May Fuel Crypto Selling Pressure

BitMine Chairman Tom Lee said recent crypto selling pressure may stem from margin calls triggered by the AI and semiconductor stock selloff, investors selling equities and crypto to fund purchases in Anthropic’s upcoming IPO, and account holders converting returned funds from the $6.3 billion hack into cash or stablecoins. He added that concerns over AI’s impact on cybersecurity and U.S. scrutiny of chip sales to Asia have further weighed on market sentiment.