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Nasdaq CEO Reveals the Next Era Of The Stock Market - Adena Friedman | All-In Summit

2025-09-09 Entertainment
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All-In Podcast
All-In Podcast
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Nasdaq’s Vision: Tokenizing Securities, Market Evolution, and Regulatory Landscape

Discover Nasdaq CEO Adena Friedman’s roadmap for integrating tokenized securities into core markets, her perspective on reforming IPO burdens, and the vital role of Federal Reserve independence in financial stability.

Short Summary

  • Nasdaq is moving to tokenize equities and transitioning toward a 24/5 trading schedule to modernize infrastructure.
  • The company pushes for significant regulatory and disclosure reforms to revitalize the IPO market and expand public ownership.
  • Friedman affirms strong belief in the US dollar but notes investor flight risk if debt concerns manifest unchecked.
  • The Federal Reserve operates data-driven and apolitically, benefiting from its established independence to focus on long-term stability.

This discussion centers on Nasdaq's aggressive strategy to evolve past its traditional exchange role into a global technology provider for modern markets. Friedman details immediate plans for tokenized trading and expanded hours while sharing insights on systemic risk, the necessity of active management in an indexed world, and the crucial need for clear regulatory frameworks governing digital assets.

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Description

(0:00) Introducing Adena Friedman (1:16) Nasdaq's business, expanding beyond a stock exchange (2:44) Big announcement! Nasdaq will offer tokenized securities, crypto going mainstream, the 24/5 trading schedule (7:21) How the IPO market can change to help companies go public faster (13:37) Evolution of markets: predictions, options, SPVs, secondaries (18:18) State of the stock market, role at the NY Fed, data issues at the Fed Thanks to our partners for making this happen! Solana - Solana is the high performance network powering internet capital markets, payments, and crypto applications. Connect with investors, crypto founders, and entrepreneurs at Solana’s global flagship event during Abu Dhabi Finance Week & F1: solana.com/breakpoint. https://solana.com/ OKX - The new way to build your crypto portfolio and use it in daily life. We call it the new money app. https://www.okx.com/ Google Cloud - The next generation of unicorns is building on Google Cloud's industry-leading, fully integrated AI stack: infrastructure, platform, models, agents, and data. https://cloud.google.com/ IREN - IREN AI Cloud, powered by NVIDIA GPUs, provides the scale, performance, and reliability to accelerate your AI journey. https://iren.com/ Oracle - Step into the future of enterprise productivity at Oracle AI Experience Live. https://www.oracle.com/ Circle - The America-based company behind USDC — a fully-reserved, enterprise-grade stablecoin at the core of the emerging internet financial system. https://www.circle.com/ BVNK - Building stablecoin-powered financial infrastructure that helps businesses send, store, and spend value instantly, anywhere in the world. https://www.bvnk.com/ Polymarket: https://www.polymarket.com/ Athletic Brewing: https://athleticbrewing.com/ Follow Adena: https://x.com/adenatfriedman Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect #allin #tech #news

Top Comments (10)

@DJjussi1 2025-09-09

lol chamath getting pwned not allowing him to interrupt

22 1 replies
@RonScottsalar 2025-09-10

Nice to see Chamath not gobbling food during a broadcast

11 2 replies
@Electricdecentralisedfuture 2025-09-09

24 hr US markets are a game changer for those of us on the other side of the world like Australia. All for it and everything going on chain.

34 2 replies
@Jinkleboppenstein 2025-09-09

Really towing the party line on her thoughts about the fed.

31
@ToughToFindAHandle 2025-09-14

This one and some others from the all in summit (Demis Hassabis, Elon) remind me why I fall in love with all in… we need more of this and less of what all in podcast has become recently. Where is David Sachs on this one to have a meaningful debate about fed? Not the one sided they are used to do when they are on their own 😂

1
@tromb2ch2 2025-09-09

Did she just say the fed has been around 250 years? Wtf 23:47

37 4 replies
@Pleasedontlaugh17 2025-09-09

How does a nasdaq listed company have a tradable instrument on the OTC?

4
@BijoyduttaDutta 2025-09-09

The FOMO on Kwarden is insane! The next leg up is going to be massive.

0
@JYagami9000 2025-09-10

Yes, the US economy is a robust economy and democracy one that will continue to thrive. I'm all in on US.

3 1 replies
@RichardWilliamLawson 2025-09-09

Economic Velocity 🚀 Market Architect/Infrastructure Investors finding investments Companies finding capital

2

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