--- title: "Jensen Huang Resigns from Nvidia as Crypto Markets Drop Below $70,000" description: "Nvidia CEO steps down amid board and congressional scrutiny, pushing Bitcoin to a 12-week low near $68,000." url: https://basisdesk.news/news/jensen-huang-resigns-nvidia-crypto-falls published: 2026-11-13T13:16:21.679Z modified: 2026-11-13T13:16:21.679Z section: Macro & Markets author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: bearish tickers: [BTC, ETH, SOL, BNB, XRP] tags: [nvidia, jensen-huang, bitcoin, binance, macro-markets] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # Jensen Huang Resigns from Nvidia as Crypto Markets Drop Below $70,000 Nvidia CEO steps down amid board and congressional scrutiny, pushing Bitcoin to a 12-week low near $68,000. ## At a glance - **What happened:** Jensen Huang stepped down immediately as Nvidia CEO and board member on Thursday, sparking broad drops across tech equities and crypto markets. - **Why it matters:** The leadership shakeup at the world's leading AI hardware maker triggered broad market contagion, pulling Bitcoin down to a 12-week low near $68,000. - **Who is affected:** Nvidia shareholders, tech equity investors, and cryptocurrency market participants. - **What's next:** Nvidia reports fiscal third-quarter financial results on Tuesday. - **Primary source:** [Morning Minute: Crypto Plummets as Jensen Huang Exits Nvidia](https://decrypt.co/383222/morning-minute-crypto-plummets-as-jensen-huang-exits-nvidia) — decrypt.co ## Key points - Jensen Huang resigned as Nvidia CEO and board member on Thursday, sending the stock down up to 14% intraday. - Bitcoin fell 4% toward $68,000 to touch a 12-week low, while Ether dropped below $2,000 alongside broad crypto losses. - Colette Kress was named interim CEO as Nvidia prepared for its fiscal Q3 earnings report scheduled for Tuesday. ## Editorial remark - **Context:** Jensen Huang's sudden departure occurred after reports of undisclosed personal relationships drew board inquiry and planned congressional subpoenas, ending a long tenure during the broader artificial intelligence buildout. - **Impact:** Digital asset markets saw steep correlative liquidations, driving major tokens down between 3% and 5% as tech equities shed market capitalization. - **Watch:** Nvidia's fiscal Q3 earnings release and leadership update scheduled for Tuesday. Nvidia Chief Executive Jensen Huang resigned as president, CEO, and board member on Thursday morning, triggering a sharp decline across technology equities and digital assets [1]. The executive departure followed reporting by The New York Times concerning relationships with an executive at an overseas chip buyer facing US export-control scrutiny and an internal direct report, which had prompted an internal board investigation and planned congressional subpoenas [1]. Nvidia provided no official reason for Huang's immediate exit [1]. Nvidia named Chief Financial Officer Colette Kress as interim CEO while retaining her finance responsibilities, and appointed Harvey Jones as its first board chair while initiating an executive search [1]. Nvidia shares fell as much as 14% before finishing down roughly 4%, compounding losses in a month where the semiconductor company has erased more than $1 trillion in market value [1]. Tech founders criticized the board's decision, with former Binance CEO Changpeng Zhao calling the move to let Huang resign "a mistake" [1]. ## Crypto Follows Tech Decline Digital asset markets sold off alongside the semiconductor rout [1]. $BTC fell roughly 4% to reach a 12-week low near $68,000, continuing a downward trajectory from above $76,000 recorded earlier in the week [1], as [Bitcoin slides toward lower support levels](https://basisdesk.news/news/bitcoin-slides-tech-rout-crypto-liquidations). $ETH fell about 3% to trade below $2,000, while $SOL, $BNB, and $XRP registered declines between 3% and 5% [1]. At the time of writing, Bitcoin traded at $69,149, down 4.6% over 24 hours, amid extreme fear across broader market sentiment. The downturn unfolded as digital asset markets continued to navigate the fallout from a $6.34 billion security incident at Binance on Oct. 29 [1]. The US Department of Justice secured court approval to seize over $1.2 billion in assets linked to the theft, contributing to $2.7 billion frozen to date [1]. Binance published an off-cycle proof-of-reserves snapshot dated Nov. 12, reporting it completed coverage of the 44 affected digital assets [1]. Nvidia is scheduled to report fiscal third-quarter financial results on Tuesday, presenting the next major corporate test for tech and crypto risk sentiment [1]. ## Sources 1. [Morning Minute: Crypto Plummets as Jensen Huang Exits Nvidia](https://decrypt.co/383222/morning-minute-crypto-plummets-as-jensen-huang-exits-nvidia) — decrypt.co, 2026-11-13 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai