South Korean Regulator Will Shield Exchanges That Freeze Funds at the First Sign of a Hack
The Financial Services Commission said it will issue a no-action letter covering exchanges that block deposits and withdrawals on suspicion of a hack, a step the industry says current law leaves unclear. The post South Korean Regulator Will Shield…
Jensen Huang Resigns as NVIDIA CEO, Colette Kress Named Interim Chief
TLDR: Jensen Huang resigned as NVIDIA President, CEO, and Board member, effective immediately on November 12. CFO Colette Kress will serve as Interim CEO while continuing as Executive Vice President and CFO. Harvey C. Jones, former Synopsys CEO, was…
Illinois Crypto Tax Draws Unlikely Alliance of DOJ, Banks and DeFi
The DOJ, the U.S. Chamber of Commerce, SIFMA and a crypto coalition led by a16z, Paradigm and Uniswap filed briefs backing a lawsuit to strike down the state’s 0.2% levy on digital asset transactions.
Super Micro (SMCI) Stock Falls 5% as DOJ Probe Eyes Alice Huang Links
TLDR Super Micro stock traded near $28.80, down about 5%, after a Bloomberg report on a DOJ probe. Investigators are checking whether entities tied to Alice Huang helped smuggle Super Micro products into China. Super Micro is not a defendant and says it…
Bitcoin falls to 12-week low as Jensen Huang’s exit from Nvidia rattles markets
Bitcoin fell as low as $71,200 as Jensen Huang quit Nvidia and MSCI confirmed Strategy's removal, with $750M in crypto positions liquidated.
Nvidia CEO Exit Shakes Chip Stocks, But Wall Street Indexes Turn Green
TLDR Nvidia fell as much as 14% on news that CEO Jensen Huang resigned, then cut its loss to about 4.5% to 5.7%. The Dow, S&P 500 and Nasdaq moved from early losses to small gains by late morning. Traders shifted money from Nvidia into other AI…
Is Qualcomm (QCOM) Stock a Buy After the SpaceX Starlink 5G Deal?
TLDR Qualcomm (QCOM) rose 1.6% in morning trading to $179.30. The Nasdaq fell 0.6% and the S&P 500 lost 0.3% over the same stretch. Qualcomm’s multi-year SpaceX deal covers Starlink Mobile’s planned 5G network. Analyst price targets run from $150 to…
‘A Massive Mistake’: Tech, AI and Crypto Founders React to Jensen Huang’s Nvidia Exit
Nvidia’s founder is out, and tech and crypto leaders are fuming. Some fear for open-source AI, others question the board, while Elon Musk says he’d be honored to hire Huang.
SpaceX (SPCX) Stock Pops 3% After $74 Billion AI Campus Plan
TLDR SpaceX plans over $74 billion for AI campuses in Starbase, Texas and Cochise County, Arizona. The stock traded at $143.82 on Thursday, up 2.91%. The AI segment brought in more than half of Q3 revenue. Arizona needs county approval, and a December…
Canaan Revenue Falls 90% as Bitcoin Holdings Take a Bigger Role in Capital Plans
Reading hardware sales, treasury decisions and operating results together gives a clearer view of Canaan’s changing capital priorities.