Shell companies could become costlier under Nasdaq’s proposed listing plan, raising entry barriers along a common route to crypto treasuries.
Nasdaq’s newly proposed listing rules may give established digital asset treasury firms an edge, while raising new barriers for smaller players looking to incorporate cryptocurrencies into their balance sheets.
The changes, announced Wednesday, include lifting the minimum public float to $15 million and fast-tracking delistings for companies that fall out of compliance.
According to Brandon Ferrick, general counsel at Web3 infrastructure company Douro Labs, the proposed changes are unlikely to hurt well-managed digital asset treasury firms. Instead, they give stronger players a trading premium.
