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Nasdaq CEO’s Endorsement of Crypto May Mean Bigger Future

Sead Fadilpašić
Last updated: | 1 min read

Nasdaq, the second-largest exchange in the world by market capitalization, is open to becoming a platform for trading cryptocurrencies once the space matures, according to their CEO.

Source: iStock/zodebala

Adena Friedman told CNBC on Wednesday, “Certainly Nasdaq would consider becoming a crypto exchange over time. If we do look at it and say ‘it’s time, people are ready for a more regulated market,’ for something that provides a fair experience for investors,” adding, “I believe that digital currencies will continue to persist, it’s just a matter of how long it will take for that space to mature.”

In the meantime, they are supporting existing exchanges, having announced a collaboration with cryptocurrency exchange Gemini, founded by early Bitcoin investors Tyler and Cameron Winklevoss.

Eric Ervin, CEO of Reality Shares, told Forbes, “If you were to rank interest in cryptocurrency on a scale of zero to 10, Friedman would be a six. She would help get the SEC [U.S. Securities and Exchange Commission] comfortable with cryptocurrency trading.”

This is another endorsement positively affecting the future of cryptocurrencies. George Soros’ wealth management firm is planning a dip into crypto. Venrock, the Rockefeller venture capital firm, partnered with CoinFund, a crypto assets hedge fund. An investment bank Goldman Sachs reportedly hired crypto trader Justin Schmidt, while another bank Barclays is considering a crypto trading desk.

Also, around one in five institutional financial firms have plans to start buying and selling digital tokens within the next 12 months, according to a survey by Thomson Reuters, an international mass media and information firm, as previously reported.