Bitcoin plunges amid panic selling, with three long positions worth over $10 million liquidated in the last five minutes.

According to a WIRED report, some NVIDIA employees are urging the company’s board of directors to reconsider the possibility of Jensen Huang returning to the CEO position. A long-tenured engineer at the company previously posted on an internal feedback forum, asking the board to fully take employee input into account before making major decisions. The post has garnered over 1,600 comments, most of which support Huang’s reinstatement. One employee wrote, “If you believe in the company’s mission, let the real boss come back.” Another employee, via internal company email, demanded management disclose the investigation process into Huang’s departure, noting that supporting Huang does not mean excusing any individual’s mistakes, but rather that the company should treat the leader, who has made major contributions to NVIDIA’s development, fairly. The report points out that Huang’s sudden resignation shocked many employees. After the resignation announcement, around 20 NVIDIA employees posted on LinkedIn to express their support for him; no posts from NVIDIA employees in support of his resignation have been found to date. An unnamed employee said internal calls for Huang’s reinstatement are widespread, warning the company could face long-term repercussions after losing its founder’s leadership. Currently, NVIDIA’s board has appointed former CFO Colette Kress as interim CEO, and former Synopsys CEO Harvey Jones as board chair. Employees hope the board will further explain the reasons for Huang’s departure and release the relevant investigation results.

NVIDIA has updated its official website’s executive management profile page, with interim CEO Colette Kress listed first, while Jensen Huang was placed in the "Founder" section. Huang’s personal profile page was also revised, noting that he founded NVIDIA in 1993 and previously served as the company’s president, chief executive officer, and a board member.

Per TradingBeats monitoring, the largest CBRS long-position whale, address 0x0871, liquidated its entire CBRS long position early this morning, ahead of Cerebras’ earnings announcement. The position was worth roughly $5.051 million, with an average sell price of $101.02, incurring a loss of approximately $418,000. Cerebras’ subsequent earnings report showed its third-quarter core revenue jumped 70% year-over-year to $230.9 million, and the firm raised its full-year core revenue guidance to $940 million–$960 million. Right after the official release, CBRS contracts rallied. As of press time, CBRS trades at $115.23 on Hyperliquid, up around 14.9% in the past 24 hours, roughly 14.1% higher than the whale’s average sell price. The address has not yet re-established a CBRS position. During the liquidation period, the address simultaneously shifted funds to ZEC, opening a new long position worth around $4.7 million at an average entry price of $939.92. It currently holds the full position, valued at approximately $4.669 million, with an unrealized loss of about $30,000.

According to TradingBeats data, the NBIS perpetual contract on Hyperliquid is trading at around $127.7, down roughly 15.7% in the past 24 hours, with a trading volume of approximately $152 million over the same period. During the decline, a whale address starting with 0x5c26 opened a total of around $11.986 million worth of NBIS long positions in batches last night, at an average entry price of $130.28. As of press time, the address still holds all the new positions, valued at roughly $11.75 million, with an unrealized loss of about $236,000 and a liquidation price of approximately $76.94.

Citrini analyst Jukan wrote in a research note that NVIDIA’s GPUs remain in tight supply, but the company’s ability to sustain chip premium pricing and market leadership hinges on its ongoing support for emerging cloud service provider Neocloud. If the new CEO adopts a more cautious approach to financing and business support for such entities, it could lead to a drop in GPU spot prices, margin pressure on Neocloud, and in turn push these firms to switch to AMD or Google’s TPU ecosystem. Jukan views Neocloud as a critical link for NVIDIA to maintain chip order volumes and supply chain control. Once clients gradually reduce their reliance on NVIDIA, the company’s long-established commercial growth flywheel could be disrupted. He also noted that Jensen Huang previously actively pushed NVIDIA chips into the Chinese market, and sought to maintain Chinese AI developers’ reliance on NVIDIA’s ecosystem via overseas Neocloud leasing channels, to secure corresponding computing power demand and Neocloud utilization rates. However, these moves have crossed into the gray area of U.S. policies, carrying political and regulatory risks. Jensen Huang originally aimed to continue bearing part of the financing risks for clients until Neocloud is capable of independently procuring next-generation GPUs, but it remains unclear whether the new CEO will continue this strategy. He expressed concerns about NVIDIA operating without Jensen Huang at the helm.

According to Coinglass data, total liquidations across the crypto network reached $225 million in the past hour, with $174 million coming from long positions and $51.3924 million from short positions. Over the past 24 hours, 134,178 traders were liquidated, with total liquidation volume amounting to $1.036 billion. The largest single liquidation order took place on Hyperliquid’s BTC-USD pair, valued at $31.0911 million.