Nasdaq's Crypto Crusade Fizzles as Staff Departs

IconCNT15 May, 2024

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Nasdaq's Crypto Crusade Fizzles as Staff Departs

Nasdaq Inc. has experienced a silent exodus of employees from its crypto-related initiatives, leaving the company's digital asset ambitions in doubt. Sources close to the matter revealed that an unspecified number of staff members have quietly left Nasdaq's crypto team. The departures follow Nasdaq's decision to abandon its cryptocurrency custody service plans in July 2023. The company has since shifted its focus to tokenized treasuries, according to sources. Nasdaq's crypto departure highlights the challenges faced by the digital asset industry as investors grapple with regulatory uncertainty and market volatility. Previously on May 15, 2024, Nasdaq had already seen staff departures from its crypto team.

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