Nasdaq implemented a new rule requiring shareholder approval for firms issuing shares to buy crypto, a move aimed at market integrity that prompted a sell-off in related stocks and digital assets.
Nasdaq introduced a new rule requiring shareholder approval before companies can issue new shares to fund cryptocurrency purchases, aiming to preserve market integrity. The announcement triggered a sell-off, with crypto-linked stocks like Strategy and BitMine Immersion falling, while Bitcoin slipped below $110,000.