ira auerbach: Nasdaq bets huge on digital property regardless of crypto turmoil
The brand new unit, Nasdaq Digital Property, will supply custody companies for cryptocurrencies, together with bitcoin and ethereum, doubtlessly pitting it in opposition to companies resembling Coinbase, Constancy Digital Property and Winkelvoss twin-owned Gemini that supply comparable merchandise.
Nasdaq has employed Ira Auerbach, a Gemini government, to guide the brand new unit.
The inventory trade has additionally expanded its anti-financial crime expertise to detect and curb cash laundering, fraud and market abuse dangers, it stated in an announcement on Tuesday, because the market is continually on the regulator’s radar.
The crypto market is reeling from a serious rout, forcing a few of its largest gamers to put off 1000’s of workers in a bid to chop prices. Bitcoin has crashed practically 60% this 12 months, driving corporations resembling Celsius Community and Voyager Digital Ltd to file for chapter.