Nvidia CEO Jensen Huang resigned following reports of three affairs, triggering significant backlash from investors and tech leaders. Billionaire shareholder Leo KoGuan stated he would not invest further in Nvidia without Huang, while Elon Musk said it would "be an honor" to hire him. A petition backed by Musk, Binance founder CZ, Nvidia employees, and shareholders gathered over 150,000 signatures demanding Huang's reinstatement. Two major investors holding over $2 billion in shares formally called on the board to restore Huang as CEO, with Huang himself discussing a potential return.
In parallel developments affecting crypto markets, Bitcoin fell to as low as $62,000 amid a broader crash that triggered $5.9 billion in liquidations. Coinbase received full US federal approval to operate as a national trust bank, marking a regulatory milestone for the exchange. Deutsche Bank, Germany's largest lender, officially launched crypto custody services, expanding institutional access to digital assets. BlackRock, managing $15 trillion in assets, projected billions of dollars would migrate into crypto ETFs driven by security concerns. Meanwhile, Bank of America removed both Nvidia and Micron from its top stock picks list, reflecting shifting sentiment toward semiconductor stocks.
Nvidia CEO Resignation Sparks Investor Revolt; Crypto Market Crashes With $5.9B Liquidations
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