Tom Lee: Binance's $6.3 billion hack unlikely to trigger major price drop

Tom Lee, chairman of BitMine ($BMNR), said in a CNBC interview on the 2nd that crypto prices held nearly flat despite Binance's $6.3 billion security breach, which he reads as a sign that risk appetite is stabilizing. Lee argued the AI market remains "very tight" and is not oversupplied, though political resistance is constraining additional AI-related spending and slowing growth. He views crypto as a leading indicator of risk appetite, suggesting many weaker market participants were already flushed out during the downturn. The comments come as investors watch whether crypto resilience holds and whether AI spending momentum can overcome political headwinds.