Bitcoin Falls to Lowest Since Aug. 20 as NVIDIA CEO Resigns

Key Facts

• Bitcoin fell to its lowest level since Aug. 20, trading near $71,400 Thursday, as tech stocks slid after NVIDIA said CEO Jensen Huang had resigned effective immediately.

• NVIDIA’s board named CFO Colette Kress as interim CEO and Harvey C. Jones, the former Synopsys CEO, as the company’s first-ever independent board chair.

• NVDA shares fell about 14% in early trading, according to the Associated Press, as Bitcoin extended a rough stretch that began with a Nasdaq selloff on Nov. 5.

Bitcoin (

) fell to its lowest level since Aug. 20 on Thursday, trading near $71,400, as tech stocks slid after NVIDIA said its board had accepted Jensen Huang’s resignation as chief executive, effective immediately.

NVIDIA’s chips underpin much of the generative AI buildout, and its stock has become one of the most closely watched proxies for risk appetite this year, with Bitcoin repeatedly moving in step with its swings amid a stretch of elevated

across both markets. Thursday’s drop extended a rough patch for Bitcoin, which has set a string of lower lows since a Nasdaq selloff on Nov. 5 triggered more than $1 billion in leveraged liquidations over the following days.

In

the

, NVIDIA’s board said Huang had resigned as president, CEO, and a board member, and that Colette Kress, the company’s chief financial officer since 2013, will serve as interim CEO while keeping her finance role. The board named Harvey C. Jones, the former CEO and executive chairman of Synopsys, as its first-ever independent chair, and said it would weigh internal and external candidates for a permanent successor.