Nasdaq CEO: Exchange Is Staying Away from ICOs

Nasdaq CEO: Exchange Is Staying Away from ICOs

The CEO of global stock exchange operator Nasdaq said this week that her firm is steering clear of initial coin offerings (ICOs). Nasdaq CEO Adena Friedman, speaking at the Financial Markets Quality Conference at Georgetown University, criticized the lack of investor protection and disclosure standards among organizers that use the blockchain use case. Through ICOs, blockchain-based tokens are sold via public sales in order to bootstrap the development of new networks. But the use case has attracted criticism for the prevalence of fraud, drawing the attention of regulators worldwide.