Share this article
Nasdaq CEO: Exchange Is Staying Away from ICOs
Nasdaq's CEO says the exchange operator has no intention to work with initial coin offerings (ICOs).
By Nikhilesh De
Updated Sep 13, 2021, 7:01 a.m. Published Oct 12, 2017, 11:30 p.m.
The CEO of global stock exchange operator Nasdaq said this week that her firm is steering clear of initial coin offerings (ICOs).
Nasdaq CEO Adena Friedman, speaking at the Financial Markets Quality Conference at Georgetown University, criticized the lack of investor protection and disclosure standards among organizers that use the blockchain use case.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Through ICOs, blockchain-based tokens are sold via public sales in order to bootstrap the development of new networks. But the use case has attracted criticism for the prevalence of fraud, drawing the attention of regulators worldwide.
It's for that reason, Friedman said, that Nasdaq is staying away.
She told attendees at the event:
"I would call (an ICO) a bleeding edge type of construct. Nasdaq doesn't tend to get engaged in the bleeding edge."
Advertisement
Friedman's comments are notable given that Nasdaq has been publicly working with blockchain since 2015 in a bid to create new capital markets for startups. The exchange operator has also filed a number of patent applications that seek to apply the tech.
Her remarks also come after the top US regulator for financial markets moved to strike a critical stance toward ICOs.
, SEC Chair Jay Clayton told a Congressional committee that ICOs are "a ripe area for pump-and-dump," which could have a negative impact on adoption of the use case's underlying tech.
However, he also said he is "cautiously optimistic" about the SEC's ability to track and end fraud cases in the US.
Image via Shutterstock
Di più per voi
Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
Cosa sapere:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
Más para ti
This article is created to test tags being added to image overlays
Dek: This article is created to test tags being added to image overlays
Lo que debes saber:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
Top Stories
