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Crypto stocks tumble following report of Nasdaq’s increased scrutiny of digital asset treasuries

Strategy, MARA, SharpLink, and BitMine all fell on the news that Nasdaq will require shareholder votes for some crypto deals.

Yaël Bizouati-Kennedy

Nasdaq will increase its regulatory oversight of companies that have been amassing crypto, including requiring shareholder votes “for some crypto deals,” according to a report from The Information. A slew of crypto-adjacent stocks tumbled upon the news, including bitcoin mega-stockpiler Strategy as well as MARA Holdings. Newcomers to the treasury space were hit harder, with Nakamoto Holdings dropping 18%, while American Bitcoin, fresh off its Nasdaq listing yesterday, dropped 20%. Ethereum treasuries were also dragged down, with SharpLink Gaming and BitMine Immersion Technologies falling 10% and 8%, respectively.

The Information reported that Nasdaq “recently told some publicly listed companies that under certain circumstances, their shareholders would need to approve the plan to raise capital to buy crypto.” The companies include Nasdaq-listed Heritage Distilling, a military-themed whiskey company.

The move could seriously damage what has become one of the most prominent crypto developments of 2025: the crypto treasury boom.

Tim Kotzman, Bitcoin Treasuries Media founder, told Sherwood News that today’s proposals signal Nasdaq’s intent to stay ahead of emerging risks and safeguard the quality of its market. 

“The focus on faster suspensions and delistings will reduce the potential for prolonged investor harm. This is the kind of proactive regulatory action that reinforces trust in the US capital markets,” he said.

So far this year, 124 US-listed public companies have announced their plans to raise about $133 billion to buy cryptocurrency, 94 of which are Nasdaq-listed, The Information reported, citing Architect Partners data. 

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US Attorney David Metcalf announced Thursday the arrests of Ruslan Igorevich Tkachuk and Alexander Vladimirovich Ledenev, alleged senior members of AudiA6, a cryptocurrency money-laundering service believed to be responsible for laundering over $389 million.

The arrests coincided with a coordinated international takedown of AudiA6 and its infrastructure, involving the search of three properties, the seizure of servers and domains connected to the organization, as well as freezing cryptocurrency assets, according to a Department of Justice press release.

Tkachuk and Ledenev were “charged by criminal complaint with one count of conspiracy to launder monetary instruments and one count of sting money laundering,” the DOJ said. If convicted, they face a maximum possible sentence of 20 years of incarceration.

Per the criminal complaint, AudiA6 offered services to conceal the origin of cryptocurrency linked to criminal activity, charging fees of up to 5% of the amount laundered.

The two defendants are in custody of Republic of Georgia authorities, and the US Attorney’s Office aims to seek their extradition to the Eastern District of Pennsylvania.

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Solana shoves all in on poker with new partnership

If you’ve got money locked up on-chain and an itch to gamble with it in a new way, has the World Series of Poker got good news for you. The WSOP announced it will integrate solana’s blockchain technology into the tournament through crypto payments firm MoonPay.

At its big summer event, players will have the option to buy into tournaments using crypto directly for the first time. In the WSOP’s Bahamas event in December, winners will be able to receive settlements in stablecoins on solana, reducing friction with international settlements.

“Solana’s ecosystem, like the WSOP, constantly challenges conventions and remains laser-focused on the consumer experience,” WSOP CEO Ty Stewart said in a statement. “Solana’s speed and efficiency mirror the fast-paced energy of our tournaments, and we are excited to showcase their technology to our global audience.”

The price of solana dipped slightly today, but has dropped more than 48% in 2026, data from CoinMarketCap shows.

Solana has been a popular network, in part from meme coin trading over the past two years, involving viral animal sensations as well as political figures such as President Donald Trump and first lady Melania Trump as well as Argentine President Javier Milei.

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