
Key Updates
- Nasdaq is reportedly imposing restrictions on companies seeking funds for their crypto treasury strategies.
- This news, paired with declining crypto prices, exerts ongoing pressure on treasury-related stocks.
Further Details
The announcements regarding crypto purchases continue, yet the rise in treasury-centric companies has faltered, leading to additional scrutiny from Nasdaq. This U.S. stock exchange, which hosts many of these firms, intends to ensure compliance by requiring shareholder approval for transactions involving crypto.
Latest Developments
By not adhering to these new stipulations, companies risk delisting or suspension of their stock trades. The pressure is compounded by a 2%-4% drop in cryptocurrency values, including Bitcoin and Solana, affecting treasury stock values even more.
- KindlyMD (NAKA) has dropped significantly since its recent merger, marking an 80% decline since mid-August.
- American Bitcoin (ABTC) has also fallen sharply, witnessing a 20% drop just a day post-IPO.
- In terms of ether treasury stocks, notable declines are evident, with companies like Bitmine Immersion and Sharplink Gaming seeing their values decrease substantially.