LIVE: Bitcoin, Ether, and XRP crash after Nvidia’s Jensen Huang admitted to affair with Chinese spy

Nvidia CEO Jensen Huang’s reported relationship with a woman identified by U.S. intelligence agencies as a Chinese spy has given investors something else to worry about heading into Monday.

The company’s board announced an investigation on Sunday, just as Wall Street was trying to recover from a brutal week for technology stocks.

The Nvidia proxy on Hyperliquid is down by 2% in 24 hours, adding to the woes of the company before the start of normal trading.

Crypto traders were already taking heavy losses before the announcement. More than $1.05 billion in leveraged positions were liquidated in the 24 hours leading up to November 6, according to derivatives market data from Coinglass.

One of the most often shared market updates talked about how a billion dollars disappeared in 10 minutes. Those market traders who had bet on prices increasing were the ones that suffered the most as far as big liquidations worth close to $930 million were concerned.

The Bitcoin value went down almost 6% to around $74,780.91 on November 6, which marked the lowest intra-day level since August 21. On the other hand, Ether fell by more than 7% to trade near the $2,247 mark.

Wall Street futures were slightly higher on Sunday evening despite the uncertainty. S&P 500 futures gained 0.1%, Nasdaq 100 futures rose 0.3%, and Dow futures added 101 points, or 0.2%.

This rebound came amid rising buying on Friday, pushing the Nasdaq Composite higher by 1.09% to 24,579.42. The S&P 500 was up 0.31% to close at 7,376.86. Only the Dow declined, dropping 237.33 points to end at 51,285.73.

While at the same time, the better-than-anticipated employment numbers from the US have made the investors wary, it is the good performance by the Democrats in the mid-term elections that has made the people wary of any restrictions on data center development.

The South Korea Kospi index edged lower while the Kosdaq tumbled by 0.87% from its previous session losses. The Australia S&P/ASX 200 ended the day with 0.39% losses as against its previous day gains. The Japanese markets were an exception as the Nikkei 225 gained 1.97% and the Topix 2.8%.

Next on the calendar is China’s inflation report, due later Monday. Economists surveyed by Reuters expect consumer inflation to come in at 0.8%, compared with September’s 0.9%.