The Nasdaq has implemented a rule requiring shareholder approval for companies’ issuance of new stock in exchange for cryptocurrency purchases. This new policy sent crypto stocks plummeting, with MicroStrategy being the most affected. The move aims to enhance market integrity by ensuring investor transparency and oversight regarding large-scale stock-for-crypto deals. 184 US companies plan to raise $132 billion through such financing this year. The decline was evident across various crypto stocks: MicroStrategy’s shares plunged over 3%, while BitMine Immersion, SharpLink Gaming, and ETHZilla saw their values plummet by a similar percentage on the day of the announcement. Bitcoin and Ether also fell, with BTC dropping approximately 2-3% and ETH sliding about 3%. The Nasdaq believes this rule is crucial in preventing market disruption caused by these complex financing deals.