Ethereum Layer 2 (L2) Total Value Locked (TVL) drops to a two-year low, ecosystem momentum weakens.

According to a report by the Financial Times, Jensen Huang, former CEO of NVIDIA, is discussing the possibility of returning to the company’s management with close associates. Multiple Silicon Valley tech figures are pushing NVIDIA’s board to reappoint Huang, and plan to form a “war room” to secure support from tech industry executives and the White House. Tesla and SpaceX CEO Elon Musk and Epic Games CEO Tim Sweeney have publicly backed a joint letter calling on NVIDIA’s board to “bring Jensen Huang back.” Some NVIDIA employees have also publicly voiced their support for Huang. However, Huang’s return faces resistance. U.S. Treasury Secretary Scott Bessent called on NVIDIA on Sunday to make “significant leadership changes.” Meanwhile, NVIDIA’s board is conducting an independent investigation into the actions that triggered the management crisis, and the company is currently led by interim CEO Colette Kress. Huang stepped down earlier after being exposed for having an extramarital affair with Alice Huang, an executive at Singapore-based chip firm Megaspeed who is suspected of being a spy. The incident also raised external questions about NVIDIA’s compliance review mechanisms when selling AI chips to Asian clients. In addition, NVIDIA’s board previously reached out to Arm CEO Rene Haas to discuss the possibility of his taking over, but the board stated that it has not yet launched a formal selection process. NVIDIA’s two major shareholders, Brad Gerstner, founder of Altimeter Capital, and Gavin Baker, head of Atreides Management, also previously sent a joint letter to the board, calling for Huang’s return to be considered.

During the weekend when traditional financial markets are closed, Trade.xyz, dubbed the "on-chain Nasdaq", enables continuous trading and real-time price discovery via perpetual contracts—features unavailable in traditional finance—allowing it to pre-price Monday's US and South Korean stock market performance. Most popular US stocks on Trade.xyz have weakened compared to their Friday after-hours levels, and are expected to open slightly lower overall in pre-market trading on Monday. Their weekend performance is as follows: - SpaceX: Currently priced at $138.38, versus $136.26 in Friday's US after-hours trading - Micron (MU): Currently at $753.68, down from $761.2 in Friday's US after-hours - SanDisk (SNDK): Currently trading at $850.49, compared to $865.98 in Friday's US after-hours - NVIDIA: Currently priced at $160.12, versus $161.04 in Friday's US after-hours - Marvell Technology (MRVL): Currently at $152.2, down from $152.588 in Friday's US after-hours - Intel: Currently trading at $57.622, compared to $58.65 in Friday's US after-hours - Google: Currently priced at $291.45, versus $294.05 in Friday's US after-hours - AMD: Currently at $518.09, down from $521.241 in Friday's US after-hours Popular South Korean stocks on Trade.xyz have edged lower compared to their Friday closing prices. Their weekend performance is as follows: - Samsung Electronics: Currently trading at $148.94, versus a Friday close of $154.27 - SK Hynix: Currently priced at $876.23, down from a Friday close of $910.638

According to an official announcement, Binance will adjust the contract size of the ANTHROPICUSDT USDT-margined Pre-IPO perpetual contract and rename the contract to ANTUSDT USDT-margined Pre-IPO perpetual contract at 16:30 (UTC+8) on November 17, 2026. The adjustment is expected to be completed at 19:00 (UTC+8) on the same day. After completion, the contract will enter a 5-minute cancel-only (cancellation only) phase. Previously, the estimated share count for the contract was 1 billion shares as of June 2, 2026, while the adjusted estimated share count is 13,116,075,288 shares.

The petition drive urging NVIDIA’s board to reinstate Jensen Huang continues to gain momentum. To date, the website has collected 151,083 signatures, including 7,380 current NVIDIA employees, 1,381 former employees, and 80,205 shareholders, among others. High-profile figures including Elon Musk, Tom Lee, and Replit CEO Amjad Masad have publicly added their names to the petition. On November 12, 2026, NVIDIA announced that Jensen Huang was stepping down as chief executive officer, effective immediately, marking the end of his 33-year tenure leading the company he co-founded. Campaign organizers and signatories express concern that Huang was forced out without due process or adequate time to defend himself, and are demanding the board provide an explanation. The open letter’s core requests to NVIDIA’s board are: reinstate Huang as CEO pending an independent investigation into the facts; if he remains in a leave of absence, provide evidence-backed justifications. The letter also calls for an independent investigation with clear scope and timeline, a fair opportunity for Huang to defend himself, and timely public disclosures addressing concerns, evidence, and trade-offs for employees and shareholders. The letter stresses: “Thirty-three years of leadership do not mean immunity from accountability, but accountability requires evidence and due process, not a public trial by the crowd.” The website notes that the campaign is independent and has not been endorsed by NVIDIA or Jensen Huang personally.

US Treasury Secretary Scott Bessent warned the Federal Reserve against further monetary policy tightening during an appearance on Fox News.

US Treasury Secretary Scott Bessent said NVIDIA's leadership needs "significant adjustments" and the company should seek a new leader externally.