# Tom Lee Says AI Stock Sell-Off Is Pressuring Crypto Markets By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/34886 Published: 2026-10-19T16:23:46.000Z Updated: 2026-10-19T16:23:46.000Z Section: Investing > Bitmine held 6,041,481 Ether (ETH) as of Oct. 18 after adding 12,535 ETH over the preceding week. Bitmine Immersion Technologies, Inc. Chairman Thomas “Tom” Lee said a sell-off in artificial intelligence stocks is adding pressure to crypto markets as investors in several countries reduce their exposure to risk. Lee pointed to concerns about AI financing and model safety, escalating U.S.-Iran military activity, anxiety ahead of U.S. midterm elections and rising global bond yields. He said those pressures contributed to selling in AI stocks, including semiconductor and memory shares, followed by broader declines in South Korea and Taiwan. Investors in the United States and South Korea hold crypto widely, Lee said, leaving digital assets exposed when they pull back from risk. His latest explanation differs from an [earlier warning that a South Korean stock decline could pressure Ether through brokerage margin calls](). Bitmine held 6,041,481 Ether (ETH), representing 4.9% of the asset’s supply, at 3 p.m. ET (19:00 UTC) on Oct. 18. It added 12,535 ETH over the preceding week. Lee said lower crypto prices could present an attractive risk-reward opportunity if fundamentals remain strong. He expects crypto to benefit from the modernization of financial infrastructure and the development of agentic AI. He said Bitmine had strengthened its competitive position over the past year and expects it to outperform in a coming crypto bull market. ## Links in this article - [earlier warning that a South Korean stock decline could pressure Ether through brokerage margin calls](https://www.tokenpost.com/news/investing/30907)