Jensen Huang Resigns as Nvidia CEO, Crypto Selloff Wipes $750M in Liquidations

Thirteen weeks of relative calm ended fast once word broke that Jensen Huang had resigned as Nvidia CEO following misconduct reports, with CFO Colette Kress stepping in as interim chief. Nvidia perps on Hyperliquid cratered 7%, and the shock rippled straight into crypto, dragging bitcoin down 7% to $68,510.01 and ether down 6.1%.

The damage was wide, not narrow: 86 of the top 100 coins tracked finished lower, and $750 million in leveraged positions got liquidated as the news hit. Maple Finance's SYRUP token took the hardest fall, down 7.4%, while DeXe was one of the rare bright spots, up 3.6%.

Regulatory and legal news added weight to an already heavy day. The DOJ won court approval to seize $1.2 billion tied to North Korea's Binance hack, India's Enforcement Directorate raided CoinDCX and Delta Exchange over alleged offshore trade routing, and Binance said it had fully repaid users hit by its $6.3 billion hack.

Named today: DeXe (DEXE) predictions · Maple Finance (SYRUP) predictions

Crypto is genuinely down today, and sharply: bitcoin fell 7.0% to $68,510.01, ether dropped 6.1%, and 86 of the top 100 coins tracked closed lower.

The trigger traces back to traditional markets. Jensen Huang's resignation as Nvidia CEO amid misconduct reports sent Nvidia shares plunging and Nvidia perps on Hyperliquid down 7%, and that shock spilled into crypto, triggering $750 million in liquidations as leveraged positions got forced out.

Days like this tend to follow a pattern: a jolt in a correlated market (here, a major tech stock) spooks leveraged traders, forced selling accelerates the drop, and altcoins fall harder than bitcoin because they're thinner and more exposed. SYRUP's 7.4% slide fits that pattern.

Layered regulatory headlines, including the DOJ's $1.2 billion seizure tied to North Korea's Binance hack and India's raid on CoinDCX and Delta Exchange, added to a cautious mood without being the main driver of today's drop.

Crypto is not up today: bitcoin is down 7.0% to $68,510.01 and ether is down 6.1%, with 86 of the top 100 coins tracked losing ground, so this is a red session by any measure.

On days when crypto does rally, it's usually the mirror image of today's slide: a scare in a correlated market fades, leveraged shorts get squeezed out, and buyers step back in once liquidations clear and prices look cheap.

Broad green days also tend to need calm news flow rather than a shock like a sitting tech CEO resigning amid misconduct reports, which is what hit markets today and pulled Nvidia perps down 7% alongside bitcoin and ether.

Today doesn't fit that pattern: with $750 million in liquidations and only 13 of the top 100 coins tracked in the green, there's no case for calling this an up day.

Of the 94 calls settled yesterday on BitPredict, 42.6% landed correctly, and the best call was a PEPE down prediction that caught a 14.9% drop.

Today's Daily Call asset is Metal DAO (MTL), one shared question, up or down by midnight UTC. Think you can read this market? Put a timestamped call on record. It's free, and your accuracy is scored publicly.