Crypto Treasury Stocks Drop as Nasdaq Tightens Oversight
Crypto-focused treasury stocks fell sharply Thursday as Nasdaq reportedly increases scrutiny on firms raising funds to buy digital assets, according to The Information. Some companies may now need shareholder approval before issuing shares for crypto purchases, with noncompliance risking trading suspensions or delisting.
The move adds pressure to already battered crypto treasury names amid 2–4% drops in major cryptocurrencies, including bitcoin (BTC $110,727), ether (ETH), and solana (SOL $203).
Notable movers Thursday:
- KindlyMD (NAKA): Down 16%, ~80% below its Aug. 15 merger level, over 90% below late-May peak.
- American Bitcoin (ABTC): Fell 20% one day after Nasdaq debut.
- Metaplanet (MTPLF): Down 8.6%, ~70% off late-May high.
- Bitmine Immersion (BMNR): Off 8.6%, ~70% from early-July record.
- Sharplink Gaming (SBET): Down 10.5%, nearly 90% below late-May top.
Strategy (MSTR) remains the strongest, slipping just 1.8% Thursday and 30% below its mid-July 2025 high.
Rising regulatory scrutiny and cooling investor enthusiasm continue to weigh heavily on crypto treasury names.
