Nasdaq's VC arm commits $100 million to Payward to accelerate development of tokenized equities and related market infrastructure. The partners expect to launch tokenized stocks in 2Q2027 and will deploy Nasdaq's market-surveillance tech across Payward's venues, signaling a broader move to tokenize traditional assets alongside crypto.
Nasdaq led US IPOs in 2025 with 290 offerings, many small. Regulators investigate Nasdaq's small-cap IPOs for potential fraud. Nasdaq implemented new rules, raising minimum IPO size to $15 million. Tiny deals less than $25 million accounted for 1.5% of IPO capital. Nasdaq's IPO growth may slow due to new restrictions on small listings.
SEC has suspended 12 emerging growth company stocks since September. Suspensions exceeded the total from the last four years combined. 67% of Nasdaq companies under $1 are emerging growth companies. The SEC cites risks of stock scams involving these companies. Most suspended stocks are Asia-based and initially penny stocks.
OpenAI's $40 billion offering bypasses the public market, affecting NDAQ's IPO landscape. Number of public companies in U.S. has halved since the late 1990s, limiting growth. SEC Chairman Paul Atkins pushes for wider access to private markets for investors. Private fundraising dynamics lead to increased wealth disparity among investors. Median age of companies going public has increased to 14 years, impacting NDAQ listings.
Nasdaq proposes stricter rules for small Chinese IPOs amid fraud concerns. New rule mandates $25 million minimum IPO raise for China-based companies. Many recent Chinese IPOs have surged and then collapsed. Pressure on Nasdaq increases due to fraud patterns linked to these stocks. SEC approval needed for proposed changes to listing standards.
Nasdaq proposes $25 million IPO fee for small Chinese companies. Rule aims to reduce 'pump and dump' incidents in IPOs. Recent IPOs highlight rising tensions between U.S. and China. Compliance concerns noted for small-cap Chinese companies on Nasdaq. Approval from the SEC required for the new Nasdaq rule.