Bitget Daily Digest（September 11）｜SEC Chair says most crypto tokens are not securities; Solana DeFi TVL hits new high; Aptos to unlock 11.31 million tokens today

GMO executive Inker warns that the largest IPO wave in history—SpaceX, OpenAI, and Anthropic combined—will inject an additional supply of shares equivalent to 6% to 7.5% of the U.S. stock market capitalization, far exceeding the historical record set during the peak of the internet bubble. He points out that if this is combined with the turning point of AI computing power shifting from scarcity to surplus, the market decline could reach 35% to 50%.

Market sentiment has dropped to the lows last seen on “Parity Tariff Day” in April, but Goldman Sachs’s flow team believes that technical conditions in US equities are quietly shifting. The corporate buyback window will reopen on a large scale from the end of October to November, mutual fund year-end selling pressure will dissipate after Halloween, and historical seasonal buying from retail and foreign investors will take over. Buybacks, retail investors, and foreign capital will all return almost simultaneously.