Nasdaq Steps Up Scrutiny of Companies Loading Up on Crypto

Nasdaq is stepping up its scrutiny of companies listed on its exchange that are aiming to get a stock price boost by raising money to buy and hoard crypto, according to company filings and people familiar with the matter. The exchange’s move could slow the crypto boom that is putting increasingly exotic tokens on mainstream markets.

The stock exchange, where the vast majority of crypto stocks are trading, is requiring some companies to get shareholder approval before issuing new shares to buy crypto. Nasdaq wants the companies to slow down and make sure their investors know what is going on before they turn themselves into crypto stocks.