Adena Friedman

Money Moves

Leading Nasdaq as it integrates LeveL Markets

Nasdaq closed its purchase of LeveL Markets on Oct. 15, 2026, putting the third-largest U.S. alternative trading system inside an exchange company. Nasdaq first agreed to buy the venue on Aug. 11.

Updated 3 days ago

Money Moves

As of September 2026: Leads the exchange operator's push into digital infrastructure

Nasdaq's venture arm committed $100 million to Payward, parent of the Kraken exchange, backing a framework called Nasdaq Equity Tokens that would put publicly listed stocks on round-the-clock blockchain rails. The investment, reported by Bloomberg at a $21 billion valuation, deepens a partnership first announced in March and adds a market surveillance agreement across Payward's venues.

Updated Sep 11