The SEC Pulls The Strings?
With news today reporting that the NASDAQ is open to becoming a cryptocurrency exchange, it's quite alarming that people aren't aware that the NASDAQ currently funds a number of exchanges, including Coinbase.
The NASDAQ CEO, Adena Friedman, stated that the company is waiting for stringent regulation by the SEC, and hopes that the crypto market will mature. In Lehman's terms, the NASDAQ can't act without the SEC's approval, and it's hoping for a less volatile market (But a volatile market is good for making money!).
The Future of the NASADAQ?
As the public begins to lose faith in the stock market, we will start to see a shift of confidence towards the cryptocurrency market. If the NYSE and NASDAQ continue to under-perform, investors will seek to embrace a new market to allocate their funds. Consequently, the NASDAQ will re-brand itself into a crypto friendly exchange, that promises to deliver greater returns than the old stock market.
Conclusion...
Consequently, a volatile market is what is needed to drive investors away from the stock market into cryptocurrency. And what's surprising is that people are waiting for the crypto market to mature...this won't happen.