A crypto whale opened a $5.44 million short position, likely anticipating Nvidia’s stock to weaken following an investigation.

According to TradingBeats monitoring, a large whale wallet starting with 0xc3ed opened a new NVDA short position worth around $5.44 million after NVIDIA’s board of directors released an independent investigation statement. The position was established at an average price of $181.33, utilizing 10x full leverage. As of press time, the position has an unrealized profit of approximately $65,200. On the news front, NVIDIA’s board of directors issued a statement in the early hours of Beijing Time today, announcing an independent investigation into reports that Jensen Huang may be a target of foreign intelligence activities. The probe is led by the independent director committee and external independent legal counsel. The board noted there is currently no reason to believe U.S. national security or NVIDIA’s confidential information has been compromised, and reaffirmed its confidence in Jensen Huang and his leadership team. Jensen Huang has pledged to cooperate with the investigation. Following the statement, on-chain NVDA contracts dropped from around $187.52 to $179.13, a decline of roughly 4.47%; over the same period, XYZ100 rose by about 0.38%. The total 24-hour trading volume of NVDA contracts on Hyperliquid’s two deployers is around $191 million, with an open interest nominal value of approximately $117 million.