Nasdaq President and CEO, Adena Friedman.
Nasdaq President and CEO, Adena Friedman, has stated cryptocurrency “deserves an opportunity to find a sustainable future in our economy,” in a recent LinkedIn post.
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Friedman characterized “the invention itself [as] a tremendous demonstration of genius and creativity.”
In her opinion, cryptocurrency is at a crossroad of two outcomes.
“1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet); or
2) The invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway).”
Friedman argues that in order for cryptocurrency adoption to evolve, “governance and regulatory clarity” is needed.
To help with this cause, Nasdaq has developed its own technology to assist exchange start-ups to establish best practices.
The company’s “SMARTS” Market Surveillance Technology has been implemented to several exchanges, including the Winklevoss twins’ Gemini exchange, allowing the company to inspect suspicious trading, potentially counteracting market manipulation.
On Jan. 7, Estonia-based cryptocurrency exchange Dx.exchange (DX) launched a revolutionary new product, tokenizing the stock market on the blockchain, utilizing Nasdaq’s Financial Information Exchange (FIX),
In December, institutional cryptocurrency marketplace for spot and futures, ErisX, raised $27.5 million from Nasdaq Ventures and Fidelity Investments.