Nvidia in the midst of a governance crisis: NVDAB, Binance’s 24/7-traded bStocks tokenized stock, plunged 10.9% in two hours overnight. Over the same period,
$BTC lost just 2.3%.
The idea circulating since this morning: “if Nvidia plunges, AI takes crypto down with it.” Binance’s data tells a different story.
First, the context. After the US market close on 11/11, the WSJ and NYT reported that Nvidia’s board of directors was meeting to decide Jensen Huang’s future (CNBC, Reuters). No decision has been announced so far.
The numbers (Binance API, 1-hour UTC candles):
- NVDAB at $174.01 at 21:00 UTC, hitting a low of $155.10 in the 22:00 candle, around $160.9 at 12:00 UTC, down 7.5%
- $25M traded in the 22:00 hour alone, compared with around $1M to $7M per hour earlier on 11/11
-
$BTC over the same period: 74,679 → 72,986
Another sign that the sell-off is targeting Nvidia, not the whole sector: AMD (+3.9%) and Broadcom (+3%) were up in premarket trading, according to CNBC.
In my view, what’s really weighing on BTC is elsewhere: the fifth day of outflows from spot ETFs, totaling $1.44B since 5/11 (SoSoValue via CoinDesk). BTC’s drop actually came around 11:00 UTC, well after the Nvidia shock.
Two possible scenarios from here. If the board keeps Huang, NVDAB could recover some of its losses, back toward $165–170. If his departure is confirmed, several analysts cited by CNBC see a further drop of up to 20%, and then a real Nasdaq risk-off move could hit
$BTC and
$ETH . Next milestone: Nvidia earnings on 17/11.
Are you already following tokenized stocks to keep up with US news overnight, or is it still just noise to you?
#Nvidia #bStocks
Sources: Binance API NVDABUSDT/BTCUSDT (12/11), CNBC, Reuters, Investing.com, CoinDesk/SoSoValue. Not financial advice.