NASDAQ Tightens Rules for Companies with Cryptocurrency Reserves
Date: 2025-09-05 Author: Gabriel Deangelo Categories: BUSINESS
The American NASDAQ exchange has tightened control over corporations that create cryptocurrency reserves and issue new shares to finance such transactions. According to The Information, the exchange can now require mandatory shareholder voting, and in case of violation of the rules, suspend trading or even delist the company.
After the election of Donald Trump as US President, the position of federal regulators has weakened, and it was NASDAQ, which has its own listing rules, that became the main instrument for overseeing such transactions.
Since the beginning of the year, interest in the so-called DAT projects has grown significantly. According to experts, 124 public companies in the United States have announced their intention to raise over $133 billion to form crypto reserves. Of these, 94 are listed on NASDAQ, and another 17 on the NYSE. Both platforms declined to comment on the situation.
Market participants note that the new measures slow down the approval process of deals. However, speed is of the essence here: companies are trying to place their shares before the rules are tightened and against the backdrop of rising cryptocurrency prices.
By mid-August, Bitcoin reached an all-time high of about $124,000, and Ethereum soon set its own record, rising to almost $5,000. As of the evening of September 4, the BTC rate is about $110,000, and ETH is trading around $4.3 thousand.
Ethereum co-founder Vitalik Buterin previously warned that the widespread use of credit funds in DAT projects focused on altcoins could lead to a collapse of Ether. Among the first companies to choose the ETH accumulation strategy were SharpLink Gaming, led by Joe Lubin, and Bitmine, led by Tom Lee. In three months, they have collected over $11.7 billion in ETH, according to the StrategicETHreserve portal.
On September 4, a new DAT company, AlphaTON Capital, appeared on the exchange, focusing on the formation of a reserve in Toncoin (TON). Shortly before this, plans were announced for the public company CleanCore, which specializes in water ozonation, to issue shares worth $175 million to create a reserve in Dogecoin (DOGE) through the House of Doge project.
Thus, the growing interest in DAT companies and crypto reserves is accompanied by tightening control by NASDAQ, which may slow down transactions, but at the same time increase market transparency.
