Hedge funds are dumping AI stocks at one of the fastest rates since ChatGPT launched 📉 According to Goldman Sachs data, they’ve been net sellers for six straight sessions, as inflation and interest-rate fears put pressure on the AI trade. Funds that piled into these stocks are now rushing for the exit, giving back much of their earlier gains. But here’s the interesting part: some at Goldman think the selling has gone too far. Could this be the start of a bigger unwind, or is the market creating an opportunity? I wouldn’t rush to buy the dip just yet. Watch earnings, bond yields, and whether selling pressure starts to cool. If fundamentals hold up, this selloff could eventually create opportunities. AI isn’t necessarily dead, but the easy-money trade might be 🤖

[Speaker Announcement] Tokenized Nike, AMD, DraftKings and Hertz shares all trade on Solana now, issued by Backpack Securities. @armaniferrante, founder and CEO of @Backpack, joins us at Breakpoint in London, 15-17 November.

First class to Shanghai for Solana Accelerate China Used to pray for times like this. Life is good #blessed

INSIGHT: Tokenized $SPCX is now the most widely held asset issued by @sunrise, with 86,722 holding addresses, ahead of Hyperliquid at 55,933 and Dogecoin at 33,222.

We’re excited to welcome Daisuke Nakagawa as Head of Strategy and Corporate Development at Backpack Japan. Few have navigated Japan's crypto regulatory landscape as extensively as Daisuke. As COO of both Kraken Japan and Binance Japan, he led licensing efforts and exchange operations in one of the world's most rigorous regulatory environments. Welcome aboard, Daisuke!