Binance co-founder Changpeng Zhao publicly criticized Nvidia's handling of its leadership transition on November 12, 2026, shortly after the company confirmed that co-founder Jensen Huang had resigned as president, chief executive officer, and board member, effective immediately.

Zhao, who is widely known in the cryptocurrency industry as CZ, said the chipmaker should not have accepted the departure of its longtime chief executive. His warning followed Nvidia's announcement of its leadership transition earlier the same day.

"It's a mistake for Nvidia to let Jensen resign," Zhao wrote in a post on X published on November 12.

It's a mistake for Nvidia to let Jensen resign.
— CZ 🔶 BNB (@cz_binance) November 12, 2026

The post challenged Nvidia's decision but offered no alternative leadership proposal. Zhao did not explain his objections, identify any specific projects or customers he viewed as being at risk, or announce any involvement in Nvidia's succession process. His remarks nonetheless added a prominent cryptocurrency industry voice to the discussion surrounding the semiconductor company's leadership. Zhao co-founded Binance in 2017, and the platform has since grown into one of the world's largest cryptocurrency exchanges.

Interim Leadership Under Colette Kress

In its official announcement, Nvidia said finance chief Colette Kress had assumed the interim chief executive position and would retain her chief financial officer responsibilities while the company searches for a permanent replacement. The dual-role arrangement places both of Nvidia's top executive positions in Kress's hands during the interim period. The board said it would consider candidates from both inside and outside the company.

The board also appointed Harvey Jones as its first chairman. Jones expressed confidence in Kress and said he expected customer commitments and technology development to continue uninterrupted during the transition.

Zhao's criticism stands in contrast to that official message of operational continuity.

Huang co-founded Nvidia in 1993 and helped build the company into a major supplier of artificial intelligence processors, chips that are widely used in the data centers where AI systems are trained and run. His decades-long tenure leading the chipmaker forms part of the leadership question raised by Zhao's statement.

Leadership Change Follows Board Investigation

The resignation followed several days of scrutiny surrounding Huang's personal conduct and reported security concerns. On November 8, Nvidia announced an independent investigation into reports involving a possible foreign intelligence effort, according to a statement from the board of directors. At that time, the board said it had no reason to believe company secrets had been compromised, and it publicly expressed confidence in Huang and his leadership team.

On November 10, the independent members of the board named outside counsel to conduct the investigation. Nvidia's subsequent resignation announcement on November 12 did not specify the reason for Huang's departure.

Market Reaction and Earnings Ahead

Reuters reported that Nvidia shares dropped more than 12% during early trading on November 12. The market reaction occurred alongside wider uncertainty about the company's succession and leadership.

Reuters also quoted Michael Feldman, who identified execution as a central risk facing the company. Feldman emphasized Huang's role in coordinating Nvidia's partners and suppliers.

Nvidia has scheduled its third-quarter fiscal 2027 results for November 17. The earnings announcement is set to proceed as planned despite the leadership transition. As of November 12, no permanent successor had been named, leaving the earnings report as the company's next scheduled public event while the interim arrangement remains in place.