NYSE Parent Company Invests in OKX at $25 Billion Valuation
One of the world’s hottest cryptocurrency exchanges, OKX, was valued at a whopping $25 billion following its newest spherical of investments.
According to reports, the Intercontinental Exchange, which is the mum or dad firm of the New York Stock Exchange, acquired a minority stake in the crypto buying and selling agency.
It additionally locations OKX properly above current market entrants resembling Bullish and Gemini, at the moment sitting at $5.39 billion and $1 billion, respectively.
As quickly because the information broke out, the value of OKB (the native cryptocurrency of the OKX ecosystem) went vertical. It skyrocketed by a whopping 37% in a matter of minutes.
The transfer is the final in a collection of deepening institutional involvements in the cryptocurrency trade. As CryptoPotato reported earlier, Morgan Stanley additionally filed for its personal Bitcoin Trust ETF, whereas Kraken – a US-based crypto change, grew to become the primary to receive a Fed Master Account.
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