Overview

• The exchange will require some issuers to obtain shareholder approval before selling new shares to buy crypto, with noncompliant firms facing possible suspension or delisting.
• Crypto-linked stocks fell following the announcement, with BitMine Immersion down about 9%, SharpLink Gaming off roughly 11%, Ethzilla lower by about 9% after a steeper intraday drop, and MicroStrategy down around 2%.
• Bitcoin declined to about $109,500 as ether traded near $4,300 and solana around $204, and total crypto market capitalization slipped roughly 2.2% over 24 hours.
• Architect Partners reports 124 U.S.-listed companies plan about $133 billion in capital raises for crypto purchases this year, including 94 on Nasdaq versus 17 on the NYSE.
• The shareholder-vote requirement may delay transactions and introduce execution risk for companies pursuing balance-sheet crypto accumulation modeled on MicroStrategy.