AI Chip Selloff Drags Bitcoin to $63K | CoinDesk Daily

— Bitcoin fell to $63,000 on Friday following a semiconductor and AI stock selloff, with broader equity futures declining (Nasdaq 100 down ~2%, S&P 500 down ~0.96%), signaling macro-driven rather than crypto-specific pressure.

— Market uncertainty centers on whether hundreds of billions in AI spending will deliver returns justifying current chip and tech valuations.

— Citadel Securities invested $400 million in Crypto.com, valuing the exchange at $20 billion in its first institutional funding round in 10 years; this is Citadel's second major crypto exchange bet after backing Kraken in November.

— Visa launched an enterprise platform supporting OpenUSD, a stablecoin backed by Visa, BlackRock, Alphabet, and Coinbase, intensifying competition in stablecoin markets.

— Circle's USDC faces competitive pressure; Circle's shares fell 7% Thursday and are down over 40% from a May high of $113.

— Bitcoin's move to $63,000 reflects macro risk-off sentiment in equities rather than crypto-specific weakness; monitor AI spending returns and tech valuations for clues on broader risk appetite.

— Institutional players (Citadel, Visa, BlackRock, Alphabet, Coinbase) are deepening involvement in crypto infrastructure and stablecoin ecosystems; this signals structural adoption even amid price volatility.