Nasdaq Cracks Down on Crypto Fundraising

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Nasdaq is tightening the rules for companies raising cash to buy crypto. Per a report from The Information, the exchange now demands shareholder votes and more disclosure for these deals. Firms that don’t comply risk being suspended or delisted.

The clampdown comes as companies race to emulate MicroStrategy’s famous bitcoin playbook. Data shows a massive spike in fundraising for this purpose: $98.4 billion announced this year versus $33.6 billion before 2025.

The new rules could slow down deals and create uncertainty, causing stock prices for several crypto-holding companies to tumble on the news.