One of the world’s most popular cryptocurrency exchanges, OKX, was valued at a whopping $25 billion following its latest round of investments.
According to reports, the Intercontinental Exchange, which is the parent company of the New York Stock Exchange, acquired a minority stake in the crypto trading firm.
It also places OKX well above recent market entrants such as Bullish and Gemini, currently sitting at $5.39 billion and $1 billion, respectively.
As soon as the news broke out, the price of OKB (the native cryptocurrency of the OKX ecosystem) went vertical. It skyrocketed by a whopping 37% in a matter of minutes.
The move is the last in a series of deepening institutional involvements in the cryptocurrency industry. As CryptoPotato reported earlier, Morgan Stanley also filed for its own Bitcoin Trust ETF, while Kraken – a US-based crypto exchange, became the first to receive a Fed Master Account.
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