Crypto markets that trade Nvidia around the clock drop as much as 10% as its board weighs Jensen Huang's future

Crypto venues that trade Nvidia around the clock took the first hit on Wednesday evening. Hyperliquid's NVDA-USDC perpetual futures began sliding around 5pm ET and fell as much as 10%, to a low of about $156.14, The Block reported. At 7:50pm ET they traded at $158.86, down 6.8% over 24 hours. NVDAx, a tokenized Nvidia share from xStocks, fell as much as 9% before rebounding to $159.51.

The slide followed a Wall Street Journal report that Nvidia's board was preparing to discuss Huang's future, with a meeting possible as soon as Wednesday. Nvidia's Nasdaq-listed shares fell more than 8% in extended trading after closing up 2.9%, and Nasdaq 100 futures were down 1% at 7:25pm ET, according to Investing.com.

The board opened an independent investigation on November 8 after reports that Huang had been targeted by a foreign intelligence effort, and said then it had confidence in him and his team. Further reporting by The New York Times followed on Wednesday. Prediction markets moved fast: Polymarket showed a 71% chance of Huang leaving by November 13, The Block said. As of ABC News's 9:24pm ET report, no decision had been announced; ABC said it had reached out to Nvidia for comment.