SOL falls below $80 mark

Huang Le, a former executive at Singapore-based data center company Megaspeed, has been accused of collecting intelligence on Nvidia's chip business. US intelligence agencies allege that Huang was recruited by China's Ministry of State Security to gather intelligence on Jensen Huang and the AI chip industry; the Chinese Foreign Ministry has refuted the espionage allegations as slander and defamation. Megaspeed became an Nvidia cloud partner just four days after its change of control. Its Malaysian subsidiary is expected to purchase at least $4.8 billion worth of equipment containing Nvidia chips between June 2024 and February 2026. Huang Le and Huang Jensen met in Singapore in December 2023 and were subsequently seen together twice in Taipei. Taiwan has been monitoring Huang's visits to Taiwan since 2024, and Bloomberg reports that Huang has returned to Beijing. (Sources: The New York Times, Bloomberg)

David Sachs, co-chair of the White House Council of Advisors on Science and Technology, published an article questioning Nvidia's "spygate" narrative. Attorney General Branch stated that the espionage charges against Huang Le are inconclusive, the CIA stated it is not yet convinced, the Office of the Director of National Intelligence stated the charges are not entirely accurate and are exaggerated, and House Intelligence Committee nominee Chairman Sims stated he is currently unaware of the allegations. David Sachs believes the only confirmed illegal activity is the leak of classified memos, and an investigation should be launched into this. Some anonymous officials insist that Huang Le is a Chinese agent, and the FBI has been investigating him for over a year. Megaspeed, a Singaporean company Huang Le helped run, has been under investigation by the Department of Justice and the Department of Commerce since 2024, for allegedly facilitating at least $7 billion in Nvidia chip sales to China. Jensen Huang has admitted to an extramarital affair and resigned as CEO; an independent investigation by the board is ongoing. (Sources: CNN, The Information)

As BTC fell to $70,000, two whales had their $60.06 million worth of BTC long positions liquidated this morning, resulting in a loss of $3.23 million in principal. Among them, the BTC long position at address 0x01e2...e977, valued at $34.91 million, was liquidated, resulting in a loss of $1.62 million; the BTC long position at address 0x5f91...65aa, valued at $25.15 million, was liquidated, resulting in a loss of $1.61 million.

Hong Kong-listed AI stocks fluctuated and declined, with Shenghong Technology (02476.HK) down 8.63%, Zhipu (02513.HK) down 7.09%, MINIMAX-W (00100.HK) down 4.76%, and Yangtze Optical Fibre and Cable (06869.HK) down 3.56%.

[Trump: Jensen Huang Called to Discuss Resignation, Proposed Tim Cook as Nvidia CEO] In an interview at the White House, US President Trump revealed that former Nvidia CEO Jensen Huang had proactively called to discuss the resignation controversy, stating that Huang was experiencing hellish suffering and was most heartbroken by the damage the situation had caused his family. Trump praised Huang's achievements at Nvidia and expressed confidence that he could overcome the difficulties. Trump proposed on social media that former Apple CEO Tim Cook succeed Huang as CEO of Nvidia. Nvidia has not yet announced a permanent successor, and Chief Financial Officer Colette Kress is currently serving as interim CEO. (Source: Jinshi Data)