Hedge Funds Dumped Tech at Record Pace; Blast Network Shutting Down
Hedge funds sold global tech stocks at the fastest 5-session clip since 2016 in the period ending Oct 15, while Coinbase confirmed Blast (BLAST) trading is suspended ahead of the network's full shutdown on October 26.
What we know
An account on X RTs Kobeissi's data showing hedge fund global tech sales in the 5 sessions ending Oct 15 were 2.6 standard deviations above the 12-month average — the largest such period since 2016. Separately, @CoinbaseMarkets announced BLAST trading has been suspended on Coinbase, with a hard deadline of October 26, 2026 for users to move assets before the Blast network shuts down entirely. The data center CDS market is also 'flying', suggesting credit markets are pricing elevated risk in the AI infrastructure buildout.
How the story developed
Hedge funds sold global tech stocks at the fastest 5-session clip since 2016 in the period ending Oct 15, while Coinbase confirmed Blast (BLAST) trading is suspended ahead of the network's full shutdown on October 26.
Hedge funds sold global tech stocks at the fastest pace since 2016 over the five sessions ending Oct 15 (2.6 sigma above average), while a bond short-squeeze is blowing up 'High Sharpe' trend trades and long-term yields are tightening financial conditions.
Sources
“Trading for Blast (BLAST) has been suspended on Coinbase. Move assets before October 26, 2026 ahead of the Blast network shutdown”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.