Technique (previously MicroStrategy), together with the remainder of the crypto treasury trade, acquired spooked final week after Nasdaq issued new guidelines about promoting inventory to purchase digital property.
Not like conventional enterprises that purpose to revenue by promoting items or companies, crypto treasury corporations primarily purchase crypto on leverage by promoting company debt, equities, and derivatives.
Trade officers need to tighten itemizing necessities for such corporations.
Certainly, moments earlier than the New York market opened on Thursday morning, TheInformation reported that the Nasdaq was contemplating forcing corporations to acquire shareholder approval previous to promoting inventory to purchase digital property.
Though Nasdaq didn’t instantly affirm TheInformation’s report, many treasury firm executives have been satisfied the steerage was actual.
SharpLink is totally compliant with Nasdaq guidelines and doesn’t require additional shareholder approvals if we select to execute our ATM program to fund ETH purchases.
Our technique stays unchanged: elevate capital solely when it’s accretive for shareholders.
Latest media experiences have…
— SharpLink (SBET) (@SharpLinkGaming) September 5, 2025
Of their view, they already possessed shareholder approvals for previous and future share choices to fund crypto purchases.
Traders have been unimpressed, nevertheless, and let its widespread inventory slide 19% over the previous week.
Technique additionally stated that the brand new coverage would haven’t any impact the corporate. To Technique’s credit score, MSTR traded flat for the week and dramatically outperformed SharpLink’s 19% loss for the week.
Crypto treasury corporations reply to the Nasdaq steerage
Though some executives have been fast to calm fears concerning the rule change, many corporations failed to offer assurance that that they had or would all the time acquire shareholder approval previous to diluting shareholders with a view to purchase digital property.
For instance, Tether’s Nasdaq-listed Twenty One slid 13% final week, Bullish misplaced 18% of its market capitalization, and David Bailey’s Nakamoto crashed 31%.
None of those corporations’ CEOs reacted to Nasdaq’s determination.
