MSTR, NAKA, BMNR Punished as Crypto Treasury Bubble Further Deflates
The purchase announcements are still coming at a fast clip, but the bubble in crypto treasury companies popped some time ago and is deflating even further on Thursday as the Nasdaq reportedly has seen enough.
That major U.S. stock exchange — where many of these treasury companies trade — is upping scrutiny of firms aiming for big pops on their stock prices by raising money to by crypto, according to The Information.
New Nasdaq requirements, according to the report, would include requiring some companies to get shareholder approval prior to selling shares for the funds necessary to buy crypto. The exchange, the story continued, could de-list or suspend trading in the stocks if firms fail to comply.
Combined with 2%-4% declines in the…
