Bittime - Nvidia shares set a new record high by achieving a market value that surpassed Apple. On the one hand, Nvidia is undergoing legal proceedings regarding crypto revenues being sued by its investors.
Supreme Court Will Handle Cryptocurrency Mining Revenue Cases
The US Supreme Court has agreed to take up a case regarding Nvidia's ( NVDA.O ) cryptocurrency mining revenue . This case has implications for shareholder lawsuits alleging securities fraud.
At the heart of the case is Nvidia's desire to make it difficult for investors to file such lawsuits. The company is seeking to dismiss a current lawsuit accusing them of misleading investors about their reliance on crypto mining revenue before the 2018 market crash.
The Supreme Court will consider Nvidia's argument that the lawsuit does not have enough evidence to proceed.
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Investor Accusations
Shareholders accused Nvidia CEO Huang Renxun of intentionally hiding the true drivers of the company's record revenue growth in 2017 and 2018. They claimed this growth was primarily driven by sales of Nvidia's GeForce GPUs for cryptocurrency mining, not by sales of traditional video games.
Investors further argued that Nvidia failed to adequately disclose the inherent volatility associated with the cryptocurrency market, which exposed the company to greater financial risks than previously acknowledged.
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Nvidia Stock Hits New High
While facing legal challenges, Nvidia experienced a positive market response. The company's stock price recently hit a record high, pushing its total market value to surpass that of Apple once again. This achievement puts Nvidia back in the position of the second most valuable company in the world based on market value.
Conclusion
This news highlights a confluence of events for Nvidia: a potential legal victory that could limit future shareholder lawsuits, and a surge in share price that solidifies their position as a market leader.
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How to Buy Crypto in Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read also:
Nvidia Surpasses Apple to Become the Second Most Valuable Company in the World
Nvidia's Earnings Rise Rapidly, Crypto AI Is More Eyed
Skyrocketing Row of AI Coins as Nvidia Shares Climb to Highest Peak in a Month
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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