MSTR, NAKA, BMNR Punished as Crypto Treasury Bubble Further Deflates

MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailCrypto Treasury Names Hammered Further as Nasdaq Reportedly Ups ScrutinyThe major U.S. exchange will require at least some companies to get shareholder approval prior to raising money to buy crypto, according to The Information.By Stephen AlpherUpdated Sep 4, 2025, 5:02 p.m. Published Sep 4, 2025, 4:51 p.m. Deep freeze comes to crypto treasury stocks (Susan WilkinsonUnsplash) What to know: The Nasdaq is reportedly aiming to put some constraints on the rush of companies looking to quickly raise money for crypto treasury strategies.That news combined with lower crypto prices is putting continued major pressure on treasury strategy stocks.In this articleBTCBTC110,036.271.97SOLSOL203.113.46The purchase announcements are still coming at a fast clip, but the bubble in crypto treasury companies popped some time ago and is deflating even further on Thursday as the Nasdaq reportedly has seen enough.That major U.S. stock exchange where many of these treasury companies trade is upping scrutiny of firms aiming for big pops on their stock prices by raising money to by crypto, according to The Information.STORY CONTINUES BELOWDon't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newslettersSign me upBy signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.New Nasdaq requirements, according to the report, would include requiring some companies to get shareholder approval prior to selling shares for the funds necessary to buy crypto. The exchange, the story continued, could de-list or suspend trading in the stocks if firms fail to comply.Combined with 2-4 declines in the price of major cryptos like bitcoin BTC110,036.27, ether (ETH) and solana SOL203.11, the news is sending already roughed-up treasury names even lower.Read more: Bitcoin Slips Below 110K as Analysts Weigh Risk of Deeper PullbackKindlyMD (NAKA) which only days ago completed its merger with bitcoin-holding company Nakamoto Holdings is down 16 on Thursday and now lower by about 80 since that Aug. 15 merger date. *Reporting by Coindesk.*