Binance Traders Are Hedging Against Jensen Huang’s Possible Exit As Nvidia Slides 8% 🦇🕸️

Omg fr the Nvidia perp futures on Binance just tanked over 8% below that US close late Wednesday 😱 after those wild reports hit about the board wanting to boot CEO Jensen Huang 💀. While that board move stays unconfirmed rn traders got the first shot to react via crypto spots since Nasdaq was already shut.

Traders Are Pricing In A Jensen Exit Drama 📉

Reports from the New York Times and Bloomberg say the Nvidia board is gearing up to remove Huang and even hired an outside firm to scout replacements plus maybe name an interim CEO 👀. This whole mess exploded from those revelations of Huang’s at least two extramarital affairs one inside the company and another with alleged Chinese spy Alice Huang 🌙. On Sunday the co-founder emailed staff apologizing for his conduct then the board launched an independent probe into it all 😈. Plus a shareholder Mark Kistenmacher filed a lawsuit claiming Nvidia and Huang misled investors on his ties to that suspected operative who used to run Megaspeed International a firm that bought over $4.8 billion in chips lately lol. Binance Research noted that once the board oust rumors dropped they triggered an instant repricing in the NVDAUSDT perp futures market well after equities closed. Nvidia wrapped that session around $173.73 actually up nearly 3% for the day but the Binance contract plunged about 8.8% under it hitting 92.6 from the prior 100 close 🖤. Trading volume went crazy with $2 billion in 24 hours on NVDAUSDT and roughly half came post US cash session so traders were def reacting live instead of waiting.

Analysts Beg The Board Not To Fire Jensen 😤

Not everyone wants Huang gone tho market watchers at The Kobeissi Letter argued the firm would suffer replacing a top exec without a clear successor. They posted on X do not fire Jensen Huang there is no clear replacement and his exit would be a net negative for Nvidia shareholders and the AI revolution fr. Instead they want a full investigation plus shareholder consults with heavy focus on the latter and noted Nvidia’s 35% dip in about 26 trading days half from this scandal with the market already pricing in an 80% chance of removal. Why risk massive downside when it’s already mostly baked in asked Kobeissi. In their view some downside to keeping him exists but the potential upside could be tremendous ✨.

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Just another echo from the void by iconofsin.eth 💖

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