hyperliquid flips nasdaqpump flips twitchsphere flips stripecrypto apps supercycleKevin Mills (@__kfm__):Quite the data point that I haven't really seen mentioned anywhere:Nasdaq net income in 2024: $1.1B$HYPE net income at current rate: $1.3BIf they keep this up, they've flipped $NDAQ profitability.Not bad for a 2 year old exchange with a team of 11. https://t.co/halJwit6vS ...

📈 Institutional spotlight: #Nasdaq purchases $50M in #Gemini shares during its #IPO 💰 — a bullish signal for #cryptocurrency investors. How are you positioning? 🔥 https://t.co/86bLuZRSaS ...

Core Insights - Nasdaq is accelerating deep reforms in its core market, focusing on tokenization and 24/7 trading to reshape modern capital market structures and efficiency [1][2] - The introduction of tokenized stocks will integrate blockchain technology directly into the core securities trading system, moving beyond off-exchange or ancillary markets [1][2] - Nasdaq plans to extend trading hours to a 24/5 model, allowing global investors to trade freely outside traditional US trading hours [2] Tokenization and Trading Hours - The primary focus is on stock tokenization, which aims to trade tokenized securities alongside traditional stocks in the same system, enhancing market efficiency [2][3] - Nasdaq's transition to a 24/5 trading model is seen as a necessary trend to serve global investors, with the potential for 24/7 trading in the future [2][3] Market Structure and Efficiency - Tokenization and extended trading hours are expected to significantly improve the efficiency of clearing and settlement processes, reducing friction and lowering costs [3] - Nasdaq currently processes 3 million messages per second and nearly 100 billion messages daily, indicating room for improvement in clearing and settlement [3] Regulatory Approach - Nasdaq adopts a cautious "regulatory first" stance towards digital assets, emphasizing investor protection and the need for clear regulatory frameworks before entering the crypto space [4] - The convergence of traditional and digital market regulations is seen as an opportunity for Nasdaq to collaborate with institutional clients in offering compliant crypto asset services [4] IPO and Listing Process Reforms - Nasdaq is advocating for reforms in the IPO process to alleviate the burdens that keep many companies private, emphasizing the importance of public markets for economic growth [5][7] - Proposed reforms include simplifying disclosure requirements, promoting direct listings with capital raises, and improving the SPAC model to provide diverse options for companies [5][7] - The exploration of tokenized direct listings is highlighted as a forward-looking reform, aiming to make the listing process more efficient and transparent [7]

In case you thought that blockchain was just for crypto, Nasdaq may want to have a word. It petitioned the Securities and Exchange Commission Monday for permission to tokenize US securities, including stocks and exchange-traded products. The setup it’s proposing would allow investors to choose how their trades are executed: the traditional way or via a distributed ledger. If they choose the latter, the Depository Trust Corporation would handle the backend work to clear and settle, recording assets on the ...

Nasdaq joining the tokenized securities race could pave the way for real asset trading in #crypto form.This is HUGE for industry legitimacy 🏦 ...

Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, is preparing to go public with Nasdaq as both its listing venue and an investor, Reuters reported Tuesday, citing sources familiar with the matter. According to the news outlet, Nasdaq has agreed to buy $50 million worth of Gemini shares in a private placement tied to the initial public offering. The arrangement apparently goes beyond funding. Nasdaq’s clients will gain access to Gemini’s custody and staking services, while Gem ...

Core Insights - Nasdaq is moving towards integrating blockchain technology with traditional finance by filing with the SEC to allow trading of tokenized equities and ETPs on its platform [1][5] - The integration aims to enhance market efficiency, reduce settlement times, and automate trading processes while maintaining investor protections [2][4] Nasdaq's Initiative - The filing allows member firms and investors to choose between tokenized and traditional securities at order entry, with the DTC managing the clearing and settlement of tokenized assets [3][6] - Nasdaq's goal is to incorporate digital assets into its existing infrastructure, promoting financial innovation while ensuring stability and fairness [5][6] Benefits of Tokenization - Tokenized securities will represent digital versions of traditional shares, maintaining the same value and rights, thus preventing market fragmentation [6] - The initiative is part of a broader trend towards tokenization, which has seen significant growth, with the RWA market expanding from $5 billion in 2022 to $15 billion in 2023, marking a 308% increase [8] Industry Trends - Major financial institutions are increasingly adopting tokenization, as evidenced by BlackRock's BUIDL Treasury fund on Ethereum, which exceeded $500 million in mid-2024 [9] - The World Economic Forum has highlighted the potential for tokenization to enhance cross-border efficiency in financial transactions [9]

Market Environment - The capital markets have experienced intense volatility earlier in the year, with a significant focus on IPOs and the fintech business [1] - Year-to-date IPO volumes are a point of interest for investors, indicating a need for insights into near-term expectations [1] Economic Outlook - At the beginning of the year, the probability of a recession was assessed at 20%, which is considered low [2] - This probability increased to 60% by mid-year, suggesting a heightened risk of recession [2] - By May, the recession risk decreased to 40%, which is slightly above the average level, indicating a more normalized economic environment [2]

Group 1 - The SEC is establishing a new department focused on managing securities fraud by foreign companies, marking a significant enforcement priority under the Trump administration [1] - The newly formed "cross-border task force" will investigate companies from foreign jurisdictions where government control poses unique risks to investors [1] - SEC Chairman Paul Atkins emphasized the agency's commitment to protecting U.S. investors from companies and intermediaries attempting to exploit international boundaries [1] Group 2 - The announcement from the SEC follows Nasdaq's decision to reform listing rules to prevent severe market volatility caused by Chinese companies [2] - Atkins has instructed other SEC divisions to propose additional methods for protecting U.S. investors, including new disclosure guidelines [2] - The SEC is also seeking public input on whether to reconsider existing rules that allow foreign private issuers certain exemptions in disclosure and reporting requirements in the U.S. [2]

Core Viewpoint - Nasdaq has proposed significant rule changes to the SEC aimed at enhancing the quality of listed companies and strengthening investor protection, which will directly impact Nasdaq-listed companies, particularly regarding public shareholding thresholds, delisting processes, and IPO requirements for Chinese companies [1] Group 1: Public Shareholding Threshold - The proposed rule increases the minimum public shareholding threshold from $5 million to $15 million, ensuring that listed companies have sufficient liquidity and a broad investor base, thereby enhancing market stability and the reliability of stock price performance [1] Group 2: Delisting and Trading Suspension Measures - For companies with a market capitalization below $5 million, the proposed rule accelerates the process for trading suspension and delisting, meaning that companies failing to meet financial performance standards or having low market capitalization will face quicker regulatory actions and delisting risks, improving overall market transparency and safety [1] Group 3: IPO Requirements for Chinese Companies - Nasdaq has introduced specific requirements for Chinese companies, mandating that funds raised through IPOs must reach at least $25 million, aimed at ensuring that Chinese enterprises have adequate capital strength when listing on Nasdaq and enhancing investor confidence in their financial stability, which may directly affect some Chinese companies planning to go public in the U.S. [1]