{"id":87373,"date":"2026-11-13T07:40:03","date_gmt":"2026-11-13T12:40:03","guid":{"rendered":"https:\/\/stateofthenation.info\/?p=87373"},"modified":"2026-11-13T07:40:45","modified_gmt":"2026-11-13T12:40:45","slug":"colette-kress-was-named-in-nvidias-5-5-million-crypto-scandal-after","status":"publish","type":"post","link":"https:\/\/stateofthenation.info\/?p=87373","title":{"rendered":"

Colette Kress Was Named in Nvidia’s $5.5 Million Crypto Scandal After…….<\/b><\/h1>"},"content":{"rendered":"

…shareholders accused the CFO of misleading investors by failing to
\ndisclose mining’s role in revenue
\ngrowth.<\/strong><\/h1>\n

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\"\"<\/p>\n

Mohammad Shahid<\/p>\n

Jensen Huang has resigned as Nvidia CEO amid allegations involving a suspected Chinese spy. Chief Financial Officer Colette Kress has taken over as interim CEO while the company searches for a permanent replacement.<\/strong><\/p>\n

Kress has spent 13 years managing Nvidia’s finances. Her history stretches from Microsoft’s early cloud expansion to lawsuits over crypto revenue and insider stock sales.<\/p>\n

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1. Kress Was Named in Nvidia’s $5.5 Million Crypto Scandal<\/h2>\n

During the 2017 crypto boom, miners bought gaming GPUs in huge numbers. In 2022, the SEC fined Nvidia $5.5 million for failing to disclose mining’s role in revenue growth.<\/p>\n

Separately, shareholders accused Kress of misleading investors about that demand.<\/strong><\/p>\n

A 2023 appeals court found sufficient grounds to allege her statements were misleading, but upheld the dismissal of claims against her because knowing or reckless misconduct was insufficiently alleged.<\/p>\n

The lawsuit against Nvidia and Huang continued, with investors winning class certification in March 2026.<\/p>\n

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