After the announcement of an investigation into Nvidia CEO Jensen Huang, crypto contracts tracking Nvidia stock on Hyperliquid fell 3.8% in 24 hours.
Nvidia’s board of directors said Sunday it would investigate Huang’s relationship with a woman. A note reported by The New York Times last week alleged that Chinese businesswoman Alice Huang had been recruited by China’s Ministry of State Security to gather information from the Nvidia founder. Nvidia’s board said there was no reason to believe national security or company secrets had been compromised.
According to data reported by The Block, NVDA-USDC perpetual futures fell to $180.50 as of 10:10 p.m. ET on Sunday. The contract’s 24-hour trading volume reached $170 million. The decline began around 4 p.m. ET; the price briefly fell as low as $178.10 before recovering somewhat.
First reaction seen in Nvidia futures
In a note to employees, Huang admitted to being unfaithful to his wife and apologized to his family. He also said he supported the board’s investigation and would fully cooperate with the inquiry into the national security allegations. A Nvidia spokesperson said Huang would continue in his role as CEO without interruption.
Rick Maeda, head of markets at Laevitas, said crypto platforms such as Hyperliquid had become the first venue for price discovery in Nvidia stock while U.S. cash markets were closed. According to Maeda, lower liquidity may have magnified the initial price reaction.
During the same period, Bitcoin fell 0.8% and Ether fell 4.2%, while U.S. index futures rose. Polymarket priced the odds of Huang leaving or being removed from his position by December 31, 2026, at 16%. On Kalshi, the odds of his departure by January 1, 2028, stood at 18%.
Not investment advice.