Regulators investigate possible information leaks and use of privileged data before corporate advertisements for the purchase of cryptocurrencies. Nasdaq hardened requirements for companies that seek to finance these acquisitions.
The United States Stock Exchange and Securities Commission (SEC) and the Regulatory Authority of the Financial Industry (Fine) put the magnifying glass on companies that announced plans to allocate part of their balance sheets to cryptocurrencies, after detecting Unusual commercial activity in their actions in the days prior to these ads.
As published The Wall Street Journalthe regulators already communicated with some of the more than 200 firms that followed the model popularized by Michael Saylor and Strategy – the largest institutional fork of Bitcoin – consisting of issuing debt or lifting capital to buy Bitcoin (BTC), Ethereum (Eth), Solana (Sol) and other digital assets.
Concern for possible leaks
The conversations would have revolved around strong negotiation volumes and price increases Observed before the ads, which could indicate the use of privileged information. Sources cited by the newspaper indicate that the SEC warned about potential violations of the Fair dissemination regulation (reg FD)which prohibits sharing non -public material information with certain investors or analysts.
Accessed lawyers explained that this type of communications usually marks the beginning of deeper investigations. “When these letters come out, they really stir the horror.
Cryptocurrencies
Regulatory concern comes in a context of growing corporate interest in cryptocurrencies. According to Architect Partners, 124 companies that are quoted in the US announced plans to raise more than US $ 133,000 million for cryptoactive purchases. Of these, 94 are listed in Nasdaq, which at the beginning of September reinforced their requirements for these shares.
Although the strategy of accumulating cryptocurrencies promoted the value of Strategy in more than 2,000% since 2020, analysts warn that the positive effects on the price of the shares have been reduced. Today there are 161 companies that have more than one BTC, accumulating near 989,926 BTC (4.7% of the total in circulation)according to data from Cointelegraph.
Even Saylor himself recently recognized that Evolution towards a more institutional market could be attractive to retailers. “You want volatility to decrease so that meginitations feel comfortable entering with great positions. But if volatility drops, the market can become bored for a while,” he said in an interview with the podcast Coin Stories.
Source: Ambito
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