Crypto Morning Brief: Jensen Huang Sends Letter to Employees Admitting Infidelity and Apologizing, TSMC Plans to Enter Advanced Memory Chip Manufacturing
Author: TechFlow
Market Updates Yesterday
Jensen Huang Writes to Employees, Admits to Infidelity and Apologizes
On November 9, according to Nvidia's official website, Nvidia founder and CEO Jensen Huang apologized to his family and all employees in an email, admitting to infidelity, acknowledging that he hurt his wife and children, and stating there was no excuse. He said he takes full responsibility and accepts criticism, hoping to repair family relationships and gradually regain trust.
Huang informed his colleagues, the board of directors, partners, and shareholders that he failed to fulfill his responsibilities and would fully devote himself to Nvidia while striving to regain trust. He emphasized that his family should not bear responsibility for his choices and requested privacy for them.
Addressing national security concerns raised by reports, Huang stated that the board has launched an independent investigation, which he supports and will fully cooperate with. He expressed his love for the United States and Nvidia, his commitment to protecting the company and supporting U.S. national security, and his pride and gratitude for being American.
Justin Sun Responds to Property Dispute Involving Jing: Ready to Apply for Trial at Shaanxi High People's Court
On November 8, Justin Sun posted on Weibo responding to the property dispute involving an individual surnamed Jing, stating he is prepared to apply for the case to be heard by the Shaanxi High People's Court. It is reported that due to related property disputes, Sun filed a civil lawsuit against Jing and her parents, involving assets worth over 30 million RMB, and the case has been officially registered according to law. In response to netizens claiming "there are plenty of people willing to pay for Jing Tian," Sun replied: "Who specifically? I can add them all to the indictment."
Codex Head: AI Controlling Computers Faster Than Faker Will Still Take Several Years
OpenAI employee @jxnlco retweeted a video posted by LoL Esports showing Faker playing League of Legends on X, commenting that "computer use will someday surpass this in speed."
Tibo (@thsottiaux), head of OpenAI Codex and ChatGPT, replied: "I think it will still take several years, but one can always dream."
OKX Founder Star: Cross-Platform UIDs Should Be Globally Unique or Transfers via UID Alone Should Be Prohibited
According to OKX founder Star, UIDs across different platforms under the OKX brand should either remain globally unique, or users should not be allowed to conduct cross-platform internal transfers using only UIDs.
Star stated that a UID is an account identifier. If identical UIDs exist across different platforms under the same brand yet cross-platform transfers via UID are permitted, it could lead to incorrect payee identification and mistaken fund transfers.
Binance Appoints Justin Yek as New Chief Financial Officer
According to The Defiant, Binance has appointed Justin Yek as its new CFO, while current head of finance Kaiser Ng will be stepping down.
Binance Co-CEO Yi He stated that Ng decided to pursue a new career after more than five years at the company. The handover plan has been underway for six months, predating the asset theft incident that occurred on October 29.
Yek previously handled finance at Airwallex and served as a technology investment banker at Morgan Stanley and Citigroup. Binance stated that the aforementioned theft incident involved approximately $6.34 billion in digital assets.
U.S. Approves Nvidia Sales of AI Chips to Chinese Company with Empty Office Location
According to The Verge, the U.S. government approved Chinese company New Matrix's purchase of Nvidia H200 AI chips, but the company's registered office location is vacant, raising concerns about whether the chip sales review was thorough enough.
Citing The New York Times, the report stated that New Matrix was established about 17 months ago, with sparse public information. The corporate registry at its registered address does not list the company, and park property staff also confirmed they have no records of it. The company's owners are linked to a Chinese private equity firm that has been placed on a U.S. blacklist since 2024.
The report also noted that it is not an isolated case for companies affiliated with entities subject to U.S. national security-related trade restrictions to be approved for purchasing Nvidia chips.
On-chain Monitor: Wintermute Address Accumulates ~$222 Million Profit on Hyperliquid
According to OnchainLens monitoring, the Wintermute address has accumulated approximately $222 million in profits from spot and perpetual contracts on Hyperliquid, with $18.83 million earned in the past 30 days.
The unrealized position nominal value of this address stands at $125.87 million, including short positions worth $115.76 million, with unrealized profits of $3.46 million. Major shorts include $26.16 million in ETH, $19.79 million in BTC, $15.23 million in HYPE, and $12.72 million in SOL.
Musk Debunks Rumor: Never Criticized Binance's 80% Market Share; Related Statements Fabricated
On November 7, Elon Musk responded on X to rumors about Binance, stating, "I never wrote anything like this. It's fabricated."
Prior to this, X user @MartiniGuyYT posted claims that Musk criticized Binance for holding an 80% share of the crypto market and hindering industry development, urging users to move funds to other exchanges to restore competition and create conditions for a bull market.
Binance founder CZ subsequently replied to the post, cautioning against spreading false information and attaching a screenshot from Grok showing Musk never made such statements. Musk confirmed below CZ's reply that the claims were fabricated.
SpaceX CEO Musk: This Quarter's Revenue Will Far Exceed NASA's Annual Budget
In a post by Elon Musk, SpaceX CEO Musk stated that SpaceX's revenue this quarter will significantly exceed the annual budget of the National Aeronautics and Space Administration (NASA).
TSMC Plans to Enter Advanced Memory Chip Manufacturing, Laying Out 3D DRAM per Nvidia's Request
On November 6, according to The Information, two sources indicated that TSMC (TSM.N) is considering expanding into advanced memory chip manufacturing, a move that would allow the world's largest chipmaker to secure a larger share of the AI hardware supply chain. TSMC recently began formulating plans to produce a specific type of advanced memory chip, 3D DRAM, in response to a request from its largest customer, Nvidia (NVDA.O).
DRAM, or Dynamic Random-Access Memory, stores data while processors use it. Unlike traditional DRAM, which places memory cells in a single layer, 3D DRAM stacks cells vertically to accommodate more memory. Memory chip manufacturing is currently dominated by Samsung Electronics, SK Hynix, and Micron Technology. All three companies are also developing 3D DRAM technology, competing in next-generation memory manufacturing.
The severe shortage of memory chips triggered by the AI hardware boom has caused prices to surge, prompting chip designers like Nvidia and Apple to seek additional supply sources. Earlier this year, Apple increased its device prices due to rising memory costs.
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