executive

NVIDIA announced that CEO Jensen Huang has resigned from his positions as President, Chief Executive Officer, and Board Member effective immediately.In addition, NVIDIA has appointed Colette Kress as the interim Chief Executive Officer while she continues to serve as Executive Vice President and Chief Financial Officer; Harvey C. Jones has been appointed as the company's first Chairman of the Board.

Coinbase's EU policy head Roeland Van der Stappen stated that the EU's efforts to tighten regulation on DeFi may push crypto users towards platforms with less investor protection. He told Cointelegraph that regulated crypto platforms might limit or even eliminate access to DeFi services as a result. He mentioned that rules aimed at protecting investors will ultimately push activities towards the least protected areas.In September, the European Securities and Markets Authority, in response to the EU Commission's MiCA consultation, suggested establishing a new category of regulated crypto services for companies providing access to DeFi protocols for customers. The European Banking Authority urged the Commission to explore new regulations for crypto lending that include suitability testing as one of the options. Van der Stappen noted that extending such tests to other DeFi services could treat simple stablecoin exchanges and leveraged lending equally, despite the different risks involved; lending, liquidity provision, and on-chain exchanges would be the most affected activities.He warned that restricting access through regulated platforms could fragment DeFi liquidity into smaller pools, resulting in worse trading prices for EU users and fostering isolated "walled garden" services that direct users towards providers outside the EU with less protection. An Adan-Ipsos survey in 2026 showed that 49% of French crypto buyers preferred accessing DeFi through exchanges, while 14% preferred personal wallets. Chainalysis reported that the slight decline in crypto activity in Germany was mainly due to reduced activity on decentralized exchanges; overall crypto activity in the EU grew by 2.2% in the 12 months leading up to June 2026.

The New York Times cited five individuals who previously worked at NVIDIA, reporting that in addition to the extramarital affair already acknowledged, Jensen Huang also had an extramarital relationship with Kimberly Powell, the Vice President of the company's healthcare business. Powell reports directly to Huang, and both are married.According to insiders, during the NVIDIA GTC developer conference in March this year, the two were spotted behaving intimately at a hotel in San Jose, California. Someone captured footage of the incident on a mobile phone, and Huang's security team subsequently isolated the shooter and requested them to sign a non-disclosure agreement. The New York Times stated that it has not seen the video, and the related relationship had previously been discussed internally within the company. Powell was originally scheduled to speak at the opening ceremony of the Milken Institute Health Summit in Washington on the morning of November 12, but the host, CNN reporter Meg Tirrell, announced that she had canceled her appearance without specifying the reason. When responding to a phone inquiry from a New York Times reporter, Huang stated that he did not believe the other party should speak directly with him, and then hung up the phone.This is the second time in a week that Huang has been exposed for an extramarital affair. Meanwhile, The Wall Street Journal reported that NVIDIA's board is preparing to dismiss Huang, with a special meeting scheduled as early as November 11 local time to discuss his future. Following the news, NVIDIA's stock price fell by about 9% in after-hours trading. Since Huang was first reported to have an extramarital relationship with Alice Huang, including the after-hours drop, its stock price has decreased by 18% across the two related reports, resulting in NVIDIA's market value evaporating by approximately $820 billion.

According to CoinDesk, Alessandro Hatami, founder of Pacemakers and former Chief Operating Officer of Digital Banking at Lloyds Banking Group, stated in a commentary article that as cryptocurrency companies increasingly converge with banks, it is worth questioning whether stablecoins still possess lasting advantages.

European Central Bank Executive Board Member Fabio Panetta stated that if negotiations are delayed, the digital euro will face postponement.

Financial technology company GTN announced the appointment of former Gemini executive Mark Jennings as the Global Head of Digital Assets. Jennings will be responsible for GTN's tokenized securities strategy, leveraging its global market access capabilities to help the platform bring traditional assets on-chain.Previously, Jennings served as the Chief Executive Officer of Gemini's European operations, overseeing the exchange's expansion in Europe. Earlier, he held several executive positions at Kraken, including serving as the Chief Executive Officer of its institutional derivatives trading platform Crypto Facilities.

In 2025, NVIDIA learned that Huang Le had been detained by the Singapore police and proactively inquired about the situation with senior officials at the U.S. Department of Commerce. A few weeks later, U.S. officials investigating its affiliated company Megaspeed for suspected chip smuggling began to face strict limitations, and by the end of the year, the Department of Commerce was instructed to cease its investigation.In late summer 2025, NVIDIA's General Counsel Tim Teter directly called U.S. Deputy Secretary of Commerce Jeffrey Kessler to ask whether the Bureau of Industry and Security (BIS) under his supervision was involved in the Singapore police's detention of Huang Le. At that time, Huang Le had already been questioned by the Singapore police and was restricted from leaving the country, while the U.S. Department of Commerce was also investigating whether Megaspeed had illegally transshipped NVIDIA AI chips. A few weeks after this call, BIS investigators received new instructions that any contact with NVIDIA must first go through Kessler or obtain his approval, and they were even prohibited from mentioning Megaspeed or its Malaysian subsidiary during external investigations.Teter later requested to meet directly with the investigators but was denied, subsequently stating that he had obtained Kessler's permission and did not understand why he was still being refused. Investigators were concerned that NVIDIA might influence the investigation through high-level connections, so they forwarded the emails to Kessler, who did not ask his subordinates to cooperate and only replied that they should strictly follow the regulations in handling the case. By the end of 2025, the U.S. Department of Justice requested the Department of Commerce to stop its investigation and take over the criminal investigation. Individuals involved in the investigation revealed that BIS had sufficient evidence to continue but was forced to halt its work, with some officials believing that the sudden transfer of the case was unusual. NVIDIA responded that contacting the Department of Commerce was to provide information, understand regulatory requirements, and assist in preventing illegal chip transshipment, and Teter was unaware of the extramarital affair between Jensen Huang and Huang Le when he intervened.

This week, the AI sector faced a sell-off. Retail investors at Serenity compiled statements from executives of several tech giants and infrastructure suppliers, pointing out a significant disconnect between market sentiment and actual fundamentals. The CEO of Lumentum stated that there is a huge misalignment between demand orders and market performance; the CEO of AMD emphasized that the industry is in the very early stages of an adoption cycle, with demand far exceeding supply.The CEO of Arm warned that if the U.S. hesitates on data center construction, other countries are ready to take over at any time, and China has not slowed down. The CEO of Qualcomm pointed out that the current bottleneck is not demand, but rather limited supply, with shortages in wafers, substrates, assembly, and more. These statements indicate an extremely optimistic outlook for accelerator, networking, and semiconductor companies.Regarding political risks and construction obstacles, Serenity noted that politicians who previously threatened to restrict data centers showed a cooperative attitude after winning the election. Executives at Meta revealed that local politicians are actively seeking dialogue to preserve investment and jobs, but building new data centers is becoming more challenging. Data center developers reported strong pricing and demand, while also paying attention to financing costs and execution risks. Serenity concluded that there is a distinction between demand disappearing and demand delays caused by insufficient construction speed, and currently, there is no evidence that AI demand has been significantly damaged.

According to The Block, digital asset infrastructure company BitGo Holdings (BTGO) announced the launch of BitGo Global Markets, its new institutional trading and financial solutions business, integrating global liquidity, trade execution, financing, derivatives, and settlement services. This division is led by former NYDIG executive Pete Janney, and BitGo completed its acquisition of NYDIG's institutional and trading business on August 27.Approximately 30 employees joined BitGo after the acquisition, bringing expertise in derivatives, financing, collateral services, and structured products. Janney initially joined the company as the head of financial infrastructure. Since 2020, BitGo has provided institutional trading services through BitGo Prime, which has now been integrated into Global Markets, merging with derivatives, collateral management, and structured financing capabilities from NYDIG.Under the new division, BitGo's Global Liquidity Layer will offer spot trading and large over-the-counter trading channels, with liquidity sourced from exchanges, market makers, and other trading counterparts; clients can use their crypto assets as collateral to borrow funds for trading positions, with BitGo responsible for qualified custody, margin monitoring, and additional margin or clearing processing.The division will also provide options, swaps, and customized structured products for qualified counterparties, as well as managed investment strategies, private funds, and research services, with clearing and settlement handled by Go Network. BitGo CEO Mike Belshe stated that Global Markets will combine custody, liquidity, trading, financing, and settlement capabilities with deeper capital markets expertise. BTGO rose 3.4% in pre-market trading on Wednesday, following a 3.7% increase the previous day.

According to Bloomberg, at the Global Financial Leaders Investment Summit hosted by the Hong Kong Monetary Authority, Wall Street executives stated that capital markets will continue to provide financing for global AI infrastructure development. Morgan Stanley CEO Ted Pick expects that cumulative spending on AI could reach $15 trillion over the next decade, with the largest tech giants potentially investing between $800 billion and $1 trillion annually over the next 7 to 12 years. Pick noted that we are currently about in the third inning of a nine-inning game.Goldman Sachs CEO David Solomon stated that as investors assess the surge in demand for AI and computing power, capital markets still have the capacity to absorb this, and the demand for financing will be strongly met. He reminded that technological supercycles rarely progress in a straight line, and the main constraint on transaction scale is the cost of capital rather than the availability of funds. Pick expects that long-term returns will be sustainable, with productivity gains potentially driving U.S. real GDP growth by 50 to 70 basis points each year. Solomon also mentioned that accountability for AI should ultimately rest with individuals rather than systems.

Matthew Sigel, the Head of Digital Asset Research at VanEck, stated that Citigroup Wealth released a report titled "Expanding the Investable Universe: A Guide to Crypto ETFs," recommending spot BTC and ETH ETFs to suitable clients as a way to allocate digital assets through regulated brokerage accounts beyond stocks and bonds. Additionally, on August 18, Citigroup announced that its new Custody+ platform will begin holding Bitcoin for institutional clients this year.Sigel noted that this will make Citigroup the 6th bank among the 29 global systemically important banks to have launched or announced institutional Bitcoin custody, following BNY, Standard Chartered, Société Générale, State Street, and Deutsche Bank. BNY, Standard Chartered, and SG-Forge have been licensed and are serving institutions, while Deutsche Bank stated it will launch within weeks, and JPMorgan has indicated it will not provide custody at this time. Sigel mentioned that last week's Binance hacking incident may be one reason for Citigroup not announcing the timeline, as he heard the service was originally set to launch last week.

Ethereum Institutional announced the appointment of former UBS Executive Director Laurens Schepens as the Head of Asia-Pacific, based in Singapore, responsible for promoting the adoption of Ethereum among financial institutions in the Asia-Pacific region.Schepens has over 15 years of experience in banking and financial services, previously overseeing UBS's digital asset business in the Asia-Pacific region and participating in the development and expansion of UBS Tokenize's tokenization services, covering structured products, funds, bonds, and equities.

According to Bloomberg, OpenAI CEO Sam Altman met with about 50 executives from Samsung Group in South Korea on October 31 to discuss deepening cooperation in the fields of storage chips and AI infrastructure. Attendees came from Samsung's electronics, finance, and biotechnology business units, and the agenda covered the impact of AI on industries, corporate decision-making, and business opportunities over the next decade.This meeting comes at a time when there is a global shortage of storage chips and prices continue to rise. The demand from data center operators has surged, further intensifying competition for chip supplies. The world's five major AI infrastructure players plan to invest over $3 trillion in the coming years, with storage chips accounting for about one-third of data center spending.This meeting also continued the cooperation previously announced by both parties, including supplying storage chips for OpenAI's "Stargate" infrastructure project and collaborating on the construction of AI data centers, including offshore floating data center solutions.

Alexandre Laizet, an executive at Capital B, the first Bitcoin reserve company in Europe, stated in a video interview with Bitcoin Magazine that France's debt has reached 120% of GDP, but the real issue is not the debt itself, but rather that the borrowed funds are used for consumption instead of investment. The debt crisis in Europe, combined with currency devaluation, provides a reason to hold Bitcoin.Laizet believes that the structure of France's capital market is suitable for implementing a Bitcoin reserve strategy, which is also the reason why Capital B chose to establish itself in France. He also mentioned that Capital B aims to become the largest company by capital size in Europe and to expand its Bitcoin holdings by continuously increasing its position during bear markets.The interview also covered new rules introduced by MSCI for Bitcoin reserve companies, the perpetual credit and regulatory environment in the European market, and the growing interest of credit investors in Bitcoin collateralized loans.

According to BeInCrypto citing Coinbase's third-quarter SEC filing, Coinbase CEO Brian Armstrong, co-founder Fred Ehrsam, and president Emilie Choi have each established Rule 10b5-1 stock sale plans, collectively intending to sell up to approximately 13.6 million shares of COIN, valued at about $2.2 billion based on the closing price on October 29.Among them, Armstrong plans to sell up to approximately 8.17 million shares between November 16, 2026, and October 2027, with the related sales executed only when the stock price reaches the preset threshold, not yet completed.

Alphabet executives stated that research and development expenses increased by 36%, primarily driven by AI talent recruitment and depreciation.

Alphabet (GOOG.O) executives stated that spending by Gemini enterprise customers has increased more than three times year-on-year.

Alphabet (GOOG.O) executives stated that they are expanding AI-based advertising to international markets.