The wave of public companies converting stock market capital into digital assets has finally drawn the focused attention of a major Wall Street regulator. Nasdaq is implementing stricter oversight for firms raising funds to buy crypto, aiming to bring more order to a booming and arguably speculative trend.
Citing anonymous insiders, The Information reports that the exchange is now enforcing shareholder approvals and greater transparency, with non-compliance carrying the ultimate penalty of delisting.
This intervention creates a new challenge for companies that have been racing to secure funds during favorable market conditions to execute their crypto treasury strategies.
The scale of the trend is undeniable. According to data tracked by Architect Partners, the volume of capital aimed at this strategy has nearly tripled in 2024, with 154 companies announcing raises compared to just 10 in all prior years. Nasdaq’s move signals that the era of easy money for corporate crypto plays may be closing.
