Commerce Department reportedly blocks blacklist of Nvidia-linked Megaspeed

Howard Lutnick’s U.S. Commerce Department is reportedly holding back efforts to blacklist Megaspeed, a Singapore-based cloud company. Cryptopolitan, citing The Financial Times, says the proposed action follows an investigation into suspected shipments of advanced Nvidia chips to China. The company also has ties to Alice Huang, whom the report identifies as a former director, placing the proposed restriction at the center of a dispute involving Nvidia CEO Jensen Huang. BeInCrypto characterizes Huang’s extramarital affair as part of an international espionage scandal and says it may be connected to the broader technology dispute between Washington and Beijing. According to that outlet, Huang admitted on November 8 that he had been unfaithful to his wife. Decrypt uses a narrower market framing, saying Nvidia has erased its 2026 gains as the suspected Chinese espionage case brings fresh scrutiny of the company and its chief executive. The three outlets broadly agree that the story combines alleged China-linked conduct, scrutiny of Huang and an export-control decision involving Megaspeed. Their emphasis differs: Cryptopolitan focuses on Lutnick’s department blocking the blacklist effort, BeInCrypto foregrounds Huang’s personal conduct and the reported financial fallout, and Decrypt concentrates on Nvidia’s market performance. The $430 billion estimated loss in Nvidia’s stock-market value across November 9 and 10 is supplied only by BeInCrypto, which reports it directly.

Megaspeed’s position is important because the Commerce Department’s contemplated blacklist would determine whether the cloud company faces U.S. restrictions despite the investigation’s connections to Huang and Nvidia. The underlying allegations concern suspected shipments of advanced chips to China, making the case an intersection of export controls, national security and technology competition. Huang’s links to the company add another dimension to the scrutiny described by the outlets.

The broader crypto market is also under pressure as the dispute unfolds. Total crypto market capitalization stands at $2.52 trillion, the overall market is broadly down, and Bitcoin is down 2.07% over 24 hours. The Fear and Greed Index reads 29, placing sentiment in the Fear category; no company-specific cryptocurrency or altcoin move was provided for Megaspeed or Nvidia.

What to watch is whether Lutnick’s department allows the proposed blacklist process to proceed and whether additional export restrictions follow from the investigation into suspected chip shipments. For Nvidia, the immediate issues are the continuing scrutiny tied to Huang and the erosion of the company’s 2026 gains, as well as the market-value decline reported across November 9 and 10. The episode could further draw attention to the controls governing advanced AI hardware entering China, while the contemporaneous risk-off conditions are visible across the broader crypto market.