Reported November 15, 2026, at 09:23 (UTC+8). Bitmine chairman Tom Lee said crypto markets had faced sustained selling over the preceding weeks despite announcements by several banks about adopting crypto assets and blockchain technology. He offered possible explanations, not confirmed causes.
Lee suggested that selling in AI and semiconductor stocks may have triggered margin calls, particularly for retail investors in Asia. He also speculated that investors might sell stocks to raise funds ahead of a potential Anthropic IPO. If Robinhood users received substantial allocations, he said, some might sell crypto assets to participate.
Lee cited a reported $6.3 billion crypto-asset theft as another potential factor, suggesting that some holders could convert assets into cash or stablecoins once affected account funds became available again. He also pointed to discussion during an Anthropic roadshow about AI potentially weakening existing cybersecurity defenses, and to U.S. Justice Department scrutiny of chips sold to Asia, including China, as possible contributors to risk aversion.
Lee expects these pressures to fade. His longer-term view is that crypto networks could serve as transaction-settlement layers and digital assets could reshape capital markets, potentially supporting a larger crypto “supercycle” than previous ones. He remains optimistic about Ethereum’s role in the financial system. These are Lee’s assessments, not established market outcomes.
