1. The New Rule That Froze the Pipe Last Thursday NASDAQ quietly dropped a bombshell: any listed "Digital-Asset Treasury" (DAT) company that wants to print new shares must put the fundraise to a shareholder vote before it can touch the proceeds to buy crypto.No more overnight PIPE-to-coin swaps.No more 10b5-1 "buy-at-market" loopholes.No more instant narrative pumps.The announcement instantly repriced optionality across the DAT complex. In 24 h the segment traded like biotech after an FDA rej...

1. The New Rule That Froze the Pipe Last Thursday NASDAQ quietly dropped a bombshell: any listed "Digital-Asset Treasury" (DAT) company that wants to print new shares must put the fundraise to a shareholder vote before it can touch the proceeds to buy crypto.No more overnight PIPE-to-coin swaps.No more 10b5-1 "buy-at-market" loopholes.No more instant narrative pumps.The announcement instantly repriced optionality across the DAT complex. In 24 h the segment traded like biotech after an FDA rej...