Nasdaq's newly proposed listing rules aim to elevate the standards for shell companies and digital asset treasury firms. The changes include a $15 million minimum public float for new listings and expedited delistings for companies that become non-compliant or have a market value below $5 million. This move is expected to benefit well-managed digital asset treasury firms, providing them with a trading premium, while increasing costs for smaller, less stable companies trying to enter the market. Brandon Ferrick from Douro Labs emphasized that the new requirements could unintentionally raise the entry barriers for shell companies, making it more challenging for new issuers to enter the Nasdaq. The proposed changes are currently under review by the SEC, and if approved, Nasdaq plans to implement them shortly. As of August 2025, Nasdaq hosts 3,324 companies in the US and continues to play a significant role in the trading of tech stocks and options, further underscoring the impact of these proposed listing rules on the cryptocurrency market.

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