DOJ Subpoenas Nvidia and Other Companies
The U.S. Department of Justice (DOJ) has issued subpoenas to Nvidia Corp. and several other companies as part of an ongoing investigation into alleged antitrust violations by the chipmaker. According to Bloomberg, this development follows previous questionnaires sent to companies involved in the investigation.
Market Reaction
The DOJ’s decision to issue legally binding subpoenas has led to a sharp decline in Nvidia’s stock (NVDA) and the broader Nasdaq market. This market downturn has also affected the cryptocurrency sector:
- Bitcoin, which had surged to $55,000 and later to $56,000, experienced a notable drop.
- Ethereum (ETH) fell below $2,400.
- Solana (SOL) decreased by 5.2%, reaching $127.
- Toncoin (TON) dropped by 7.8% to $4.82.
- BNB fell by 3.6% to $513.
Liquidation Data
The market decline triggered a significant wave of liquidations in leveraged trading positions. According to Coinglass data:
- In the last 24 hours, $194 million worth of leveraged trades were liquidated.
- Out of this, $169 million were long positions, and $25 million were short positions.
- A total of 73,571 investors faced liquidation.
- The largest single liquidation order occurred on Binance in the ETH/USDT trading pair, valued at $2.94 million.
Most Affected Assets
Bitcoin and Ethereum were the most impacted by the recent market volatility, followed by Solana. The sharp declines in these major assets highlight the broader market’s sensitivity to significant news events and regulatory actions.
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