- Nvidia named CFO Colette Kress interim CEO after Jensen Huang resigned the post.
- Bitcoin ETFs lost $185.45 million on November 13, a seventh straight day of outflows.
- JPMorgan expanded its Strategy stake 36% to 848,932 shares in the third quarter.
The global crypto market cap fell 1.3% to $2.375 trillion over the past 24 hours. Bitcoin traded at $66,624.30, down 5.0% on the day and down 12.2% over the past week.
Ethereum traded at $1,885.03, down 5.3% in 24 hours and 16.1% over seven days. BNB fell 4.7% to $613.80, down 11.5% weekly. XRP dropped 2.9% to $0.9902, slipping below $1, and is down 15.1% over the week. Solana slid 6.3% to $75.17, down 16.9% over seven days.
Onchain data showed 24,920 wallets holding $1.32 billion in Bitcoin longs on Hyperliquid, at an average entry price of $75,565. Those positions carry $130 million in unrealized losses.
Trending Searches
Bitcoin led trending searches, down 5.0% to $66,712.56. Solana fell 6.2% to $75.22, while Pearl rose 10.1% to $1.52. Among top gainers, Akedo surged 374.2% to $0.01259, Ardor climbed 49.2% to $0.01908, and Unitas gained 40.7% to $0.1911.
On-Chain Signals
Axel Adler Jr. said Bitcoin has traded below the short-term holder realized price of $75,429 for five straight days. That leaves short-term holders with unrealized losses of roughly 10%. Strive CEO Matt Cole said Bitcoin is near its 200-week moving average of about $68,000. Bitcoin’s undervaluation has reached a level seen only 3.4% of the time historically.
Nvidia Leadership Shake-Up
Nvidia announced on November 12 that Jensen Huang had resigned as CEO and left the board, with CFO Colette Kress serving as interim CEO. The Financial Times reported that the board approached Arm CEO Rene Haas about the role. Nvidia’s board said it has not formally contacted any candidates and is still choosing a search firm.
Senate Banking Committee Chairman Tim Scott asked Huang to testify on December 3 about chip exports to China. Musk said he will sign a petition calling for Huang’s reinstatement, and Bitmine chairman Tom Lee said he has already signed one. Liquid Capital founder Yi Lihua said the Huang news drove Saturday’s crypto decline.
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Binance Hack Recovery
The US Department of Justice said it seized the cloud infrastructure behind North Korea’s FaceStealer social engineering campaign. Under court authorization, it has seized or frozen more than $1.2 billion in assets stolen from Binance. Binance said it reopened withdrawals on 87 networks this week and aims to restore all remaining networks and assets by the end of next week.
ETF Flows and 13F Filings
SoSoValue data showed Bitcoin spot ETFs losing $185.45 million on November 13, their seventh straight day of outflows. BlackRock’s IBIT accounted for $143.53 million of the total.
JPMorgan’s 13F filing showed it raised its Strategy stake 36% to 848,932 shares and held 11,408,930 IBIT shares. Jane Street raised its FBTC holding nearly eightfold, to 7.01 million shares.
Regulation and Policy
The DOJ and CFTC sued Arkansas to block the state’s enforcement action against Kalshi. The House Oversight Committee recommended that Congress restrict or ban federal personnel and lawmakers from trading on prediction markets. Thailand’s SEC proposed capping each customer’s daily stablecoin deposits and withdrawals at 5 million baht.
Macro
US October PPI rose 6.5% year over year, the highest since November 2022 but below the 6.6% forecast. BofA now expects Fed rate hikes in December, January and March, lifting the peak rate to between 4.50% and 4.75%. The Fed’s Financial Stability Report showed that 87% of survey respondents named AI as a significant risk to the financial system.
Stablecoins and Treasuries
DefiLlama data showed RLUSD’s market cap at about $2.702 billion, overtaking PayPal’s PYUSD at about $2.628 billion. Metaplanet cut its 2026 revenue forecast by 59.4% to ¥6.5 billion. The company said it did not issue new shares at the planned scale because its mNAV stayed below 1.0x.
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