Nasdaq CEO: Cryptocurrencies Are at ‘Height of Hype’

In an interview on Bloomberg Businessweek on June 5, Adena Friedman, president and CEO of Nasdaq Inc., said that cryptocurrencies are at “the height of a hype cycle” and can become a “financial element of the Internet.”

Speaking on how Nasdaq looks at disruptive technologies and instruments like cryptocurrencies, Friedman said that the corporation has been taking a research-oriented approach to when and whether they want to be involved in digital currencies. Friedman said that she believes the construct of cryptocurrency is beginning to become one the company can understand, and has potential to become a financial element of the Internet.

Friedman, stated that digital currency is “very much a speculative asset class,” that doesn’t naturally have a kind of foundation or purpose in terms of international commerce. She speculated that once cryptocurrencies become more mature, they will provide a “more seamless way for commerce to occur.” She added that while she did not know which cryptocurrency would “create that opportunity,” she believes that over time “there will be that utility.”

Friedman said that cryptocurrencies are at “[the] height of a hype cycle” with a great number of  players in the industry. Nasdaq, as per the CEO, has found its opportunity to become more involved in the industry by providing surveillance technologies and market information to some crypto exchanges…

Read Full: Nasdaq CEO: Cryptocurrencies Are at ‘Height of Hype’