Nasdaq's stalled or canceled crypto projects lead to staff departures and shift to tokenizing T-bills

Several cryptocurrency projects, including an effort to tokenize U.S. Treasury bills, have been stalled or canceled at Nasdaq, leading to some members of the exchange's digital assets team leaving the company. While Nasdaq had previously announced its intention to become a licensed custodian of crypto or digital assets, it later abandoned the plan due to regulatory uncertainty in the U.S. The exchange then shifted its focus to tokenizing T-bills, but it is unclear how many team members left or whether layoffs were involved. Nasdaq has declined to comment on the matter.