Nvidia’s board opened an independent investigation into chief executive Jensen Huang after reports of his relationship with Alice Huang, a woman U.S. intelligence agencies suspect of having ties to Chinese intelligence. Crypto markets, which remained open, reacted before Wall Street: Bitcoin briefly fell below $74,000 and Ether dropped below $2,100. More than $1 billion in leveraged crypto positions were liquidated within 24 hours, mostly longs, while Nvidia perpetual contracts declined by roughly 3% to 4%. The spillover to Bitcoin and crypto assets highlights the growing correlation between the artificial intelligence sector, risk assets, and crypto markets, although thin weekend liquidity and macroeconomic uncertainty also contributed to the decline.
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