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Nasdaq 'Would Consider' Creating a Crypto Exchange, Says CEO (coindesk.com)

The CEO of Nasdaq suggested Wednesday that the company could open a cryptocurrency exchange in the future. From a report: The subject came up in an interview with CNBC, during which CEO Adena Friedman expressed openness to the idea. "Certainly Nasdaq would consider becoming a crypto exchange over time," Friedman remarked, adding: "If we do look at it and say 'it's time, people are ready for a more regulated market,' for something that provides a fair experience for investors... I believe that digital currencies will continue to persist it's just a matter of how long it will take for that space to mature. Once you look at it and say, 'do we want to provide a regulated market for this?' Certainly Nasdaq would consider it."

38 comments

  1. Who wouldn't want to be an exchange? by OrangeTide · · Score: 4, Insightful

    Being an exchange is zero risk, and you get a slice of all the action. No need to worry about the latest mining hardware, or losing your shirt in the wildly unstable cryptocurrency market.

    --
    “Common sense is not so common.” — Voltaire
    1. Re:Who wouldn't want to be an exchange? by Joce640k · · Score: 2, Insightful

      Yep.

      The Bitcoin fanbois will tell us it means Bitcoin is legit (finally!) but all it really means is that NASDAQ think there's some decent transaction fees to be made.

      --
      No sig today...
    2. Re:Who wouldn't want to be an exchange? by OrangeTide · · Score: 0

      Bitcoin - the free market version of wealth redistribution.

      --
      “Common sense is not so common.” — Voltaire
    3. Re:Who wouldn't want to be an exchange? by Pinky's+Brain · · Score: 0

      Can't match the trades 1:1, they always invest some of their own liquidity.

    4. Re:Who wouldn't want to be an exchange? by Junta · · Score: 1

      Actually, he just said 'if the time is right', in other words he basically said nothing, not dismissive nor committed.

      --
      XML is like violence. If it doesn't solve the problem, use more.
    5. Re:Who wouldn't want to be an exchange? by danlip · · Score: 1

      *she

  2. Once NASDAQ involved by sinij · · Score: 3, Funny

    Maybe we can push more ICOs. Lets also repackage these ICOs into derivatives and roll them into every security that is being sold. Then gamble on futures using hedge funds with borrowed money.

    What could possibly go wrong?

    1. Re:Once NASDAQ involved by Joce640k · · Score: 0

      What could possibly go wrong?

      Not much, actually.

      A few idiots will lose their pensions speculating on Bitcoin but it can't crash the economy like when they did it with houses.

      --
      No sig today...
    2. Re:Once NASDAQ involved by Pinky's+Brain · · Score: 1

      If the bubble grows large enough, of course it can. Even banks and pension funds will find some indirect way to be exposed, the financial industry will find a way. The pensioners and blue collar workers who invested themselves won't be consuming much for a while.

      The economy does well at low inequality and high wealth, tulip mania creates a highly unequal distribution of wealth in collapse.

    3. Re:Once NASDAQ involved by Anonymous Coward · · Score: 0

      then fix it all with "quantitative easing"

  3. Step 4 by Aaden42 · · Score: 4, Funny

    Nasdaq "would consider" selling your grandma into slavery if it were deemed profitable and the the regulatory environment shifted / was purchased appropriately.

    1. Re:Step 4 by Anonymous Coward · · Score: 0

      Of if they thought that the fine for selling someone into slavery would be lower than the profit they could make doing so.

    2. Re:Step 4 by angel'o'sphere · · Score: 1

      Sounds like a bargain!
      She could pay my student tuitions then!
      Unfortunately she died 2 years ago at age of 89 and I'm 51 now ...

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
    3. Re:Step 4 by I4ko · · Score: 1

      "Would consider" means nothing more than "would consider". Translation into simple English "would think about". One can think about many things, real, surreal, irreal, rational, irrational, possible, impossible, legal, illegal, etc. The thinking about something means nothing. It is decision that is reached that is important.

      For example I would consider drinking a bottle of vodka. And I would decide "no".

  4. Crypto currency value by Volda · · Score: 0

    What value do these crypto currencies even create? I just dont understand it. Atleast "real" currency sort of has some government backing to it. Maybe wrong wording for it but I dont get what value there is in crypto currencies.

    1. Re:Crypto currency value by ShanghaiBill · · Score: 2

      At least "real" currency sort of has some government backing to it.

      That is a bug, not a feature. Most of these governments are highly indebted and have a vested interest in using inflation to monetize that debt.

      No government backs gold. Over the last century, the US dollar has lost 98% of its value against gold. Most other "government backed" currencies have done even worse.

      Is a hen house more secure when there is a fox to guard it?

    2. Re:Crypto currency value by angel'o'sphere · · Score: 1

      Is a hen house more secure when there is a fox to guard it?
      Of course it is! You get everything wrong again!

      Enemy cocks/roosters have it much more difficult to get inside!

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
    3. Re:Crypto currency value by Anonymous Coward · · Score: 0

      For every million "made" on Bitcoin there's a thousand people who lost $1000.

      Not true, it's the same as stock in this regard - if you make $1M selling your stock, doesn't mean other people lost $1M, just means the price has increased that much.

      The limit on price is how many people are prepared to put money into it hoping to be a winner. The chances of that are zero.

      Chances of what? of it being a winner? Problem is, people think they can make money on it, so they buy Bitcoin, raising the price, encouraging more people to buy, raising the price........ It's not the number of people willing to "invest" in bitcoin, it's how much of it they buy, and how much that raises the price....

    4. Re:Crypto currency value by Pinky's+Brain · · Score: 1

      True wealth of a nation is productive and human capital.

      There is no significant value stored in money on a national scale, it's a means to an end ... an inflationary currency is a better means to the end than a deflationary one.

    5. Re:Crypto currency value by Anonymous Coward · · Score: 0

      The value they provide is
      * a storage of wealth
      * a means to transfer wealth without being counterfeited, double spent or refunded
      * a financial speculation market

    6. Re:Crypto currency value by Comrade+Ogilvy · · Score: 1

      IMO, the advantages/disadvantages of a little inflation/deflation are overblown by both crypto fans and crypto critics. However, in a serious financial crisis, I believe the problems of deflation getting out of hand are very real, and not exaggerated at all.

    7. Re:Crypto currency value by ElitistWhiner · · Score: 1

      Crypto currency value by definition is that it provide a medium of exchange. NASDAQ are open to providing one. That is interesting.

      In light of the fact that Crypto have historically behaved as a commodities (i.e. store of value) rather than currency NASDAQ enables the latter. Crypto-scheme currency gains one step closer to towards money (i.e. medium of exchange + store of value).

    8. Re:Crypto currency value by Joce640k · · Score: 1

      For every million "made" on Bitcoin there's a thousand people who lost $1000.

      Not true, it's the same as stock in this regard - if you make $1M selling your stock, doesn't mean other people lost $1M, just means the price has increased that much.

      In theory a stock price is related to company earnings. That's not really true any more though.

      If you sold your stock for $1 million profit it means somebody else handed you their money.

      There's a limit to how many times this can happen to any given share/coin. Both are pyramid schemes, the only real winners are the people taking sales commissions.

      --
      No sig today...
  5. posting by number6x · · Score: 1

    posting to reverse bad moderation

  6. WARNING by Anonymous Coward · · Score: 0

    As many people have already said: "Crypto currencies are the single biggest threat to our freedom. It puts far too much power in far too few hands. It's so much power that it demands an immediate military response on any organization or government agency that even attempts to force it's use."

    It doesn't take a lot of imagination to realize that those that control the block chain have full access to the ledger, otherwise there is no reason to put it in a block chain.

    As banks and credit card companies can already put a stop payment on any credit card purchase you make, be it food or gas, you should have no doubt that a brand new block chain based crypto currency would have the same capabilities.

    It can be good in stopping a real bad guy, but what happens if a Pol-pot or a Hitler end up in power? If he decides you and your first born child are to be put to death, will you comply, run, or fight? Compliance is out of the question, and running won't work as they will know exactly where you are when you try to buy gas from Shell Station 27 or a sandwich from Burger King 173. The stormtroopers will be all over you.

    Actually, they don't even need to send any. They will simply prevent you from buying any food, water, medicine, shelter, gas, and will remotely inform you to report to the local police station.

    And what if you decide to fight? Do you really think they will let you buy guns and ammo? At the very least, they will see a pattern of what you are doing, and will match it with other people doing the same thing in that area.

    What if your not doing anything wrong? They can still use it to infringe on your freedom. Imagine buying a Starbucks drink in Ohio for 5 coins, but as soon as you cross the state line, the same thing will cost you 50 coins. Not everybody else, just you. That way they can control your location but will pretend you have the freedom to travel.

    Crypto currencies will not be tolerated under any circumstances.

    1. Re:WARNING by Anonymous Coward · · Score: 0

      "It doesn't take a lot of imagination to realize that those that control the block chain have full access to the ledger, otherwise there is no reason to put it in a block chain."

      EVERYONE has access to the blockchain.

      You're clueless.

  7. NASDAQ would 'consider' a people exchange by rsilvergun · · Score: 1

    if slavery wasn't against the law. They'll do whatever makes money and to devil with consequences.

    --
    Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
  8. All cryptocurrencies are Ponzi Scams by Anonymous Coward · · Score: 0

    Are (any) fiat-currency and (any) cryptocurrency really equivalent, as cryptocurrency fans claim?
    For example, US Dollar and Bitcoin are really equals?
    Value/validity/authorization of US dollar is provided/guaranteed by US Government (and in-turn whole US Public)!
    Also, not to mention, US Dollars in any US Bank is insured by US Government!
    What authorization/guarantee/insurance is behind Bitcoin? Nothing!
    Sorry but that is the end of discussion then!

    Why do you think Satoshi Nakamoto is really hiding his identity, if Bitcoin is really such a great innovation?
    He is just someone does not like media/fan attention?
    Or, could it be really because Bitcoin (and all cryptocurrencies followed it) are actually Ponzi Schemes?
    (So he knew very well that law enforcement would come after him sooner or later?!)

    If so-called cryptocurrencies are really good innovation, why they attract so many criminals/criminal activity?
    Could it really be because, all cryptocurrencies themselves are scams, and that is why they attract all kinds of criminals/criminal activity?

    If so-called cryptocurrencies are really currency, why no company/store can use Bitcoin as currency anymore?
    Because the price of Bitcoin proved to be extremely unstable to use as a currency?
    Would the result be different, if Bitcoin replaced by any other "cryptocurrency"?
    Aren't all work the same way?

    If so-called cryptocurrencies are really money; isn't people issuing their own money, illegal already, in all countries?
    If so then, why they are still not banned in all countries?

    Or, they are not actually virtual currency but virtual investment?
    But, if they are actually investment, why we need/want them?
    What would happen to world economy, if people invested in virtual investments, instead of real investments?

    Or, all so-called cryptocurrencies are actually just a modified (made decentralized and paying variable interest) Ponzi Schemes?
    (Price of cryptocurrencies would keep increasing in the long term (by their design), so it is equivalent of paying variable interest to all long term investors.)

    As more and more people invest in cryptocurrencies, it will become harder and harder to ban their trading everywhere!
    All cryptocurrencies need to be banned globally before it is too late!

    1. Re:All cryptocurrencies are Ponzi Scams by etash · · Score: 1

      did you get your meds today?

  9. Re:Never happen by Pinky's+Brain · · Score: 2

    Why would they care what is being brokered? Whether people are throwing futures around as casino chips or digital tokens, they live off the fees.

  10. Re:Idiotic idea. by Pinky's+Brain · · Score: 1

    How much of the cryptomarket is based on trust in coinbase? It's highly centralized as it is. Tulips are more relevant to crypto than trust in proof-of-work.

  11. Re:Never happen by mikael · · Score: 2

    And at the speed-of-light trading where they can buy and sell magnitudes faster than the punter from a home computer. Basically profiting from the s

    --
    Vintage computer adverts: http://www.vintageadbrowser.com/computers-and-software-ads
  12. NASDAQ and Ponzi Scemes by Anonymous Coward · · Score: 0

    NASDAQ and Ponzi scemes are synonymous. Why did it take them so long to get into the latest scam?