Markets on edge: NASDAQ "tightens the screws" on crypto companies 📉
Worrisome news for public companies that have bet on cryptocurrency. The NASDAQ stock exchange is intensifying its oversight of companies that actively buy digital assets on their balance sheets. The market reaction was swift — the stocks of many of these companies fell during trading in the U.S.
Investors are seriously concerned about the new, stricter rules. Enhanced scrutiny could lead to delays in transactions, and in the worst case — to suspensions of trading or even delisting of stocks of companies that do not meet the new exchange requirements.
The main indicator of nervousness — MicroStrategy (#MSTR), the largest public holder of bitcoin. Even their stocks have declined against this backdrop, losing around 3% at one point.
It seems the era of uncontrolled crypto purchases on the balance sheets of public companies is coming to an end. Regulators are demanding greater transparency and predictability, which is causing a wave of sell-offs among investors fearing risks.