Crypto exchange OKX is considering going public in the U.S., just a few months after officially re-entering the American market. The timing comes on the heels of a $500 million settlement with the U.S. Department of Justice (DOJ), which put to rest earlier allegations that it operated without a license.
This IPO scoop first appeared in The Information and comes at a time when more crypto firms are lining up to go public, riding a fresh wave of investor enthusiasm. For OKX, it’s a strategic pivot, a bet that U.S. regulators aren’t as tough as they once were.
As part of its re-entry, OKX established a regional base in San Jose and brought in industry veteran Roshan Robert as CEO of its U.S. division. A former executive at Morgan Stanley and Barclays, Robert has been tasked with building a stateside operation that goes beyond trading.
The exchange currently employs around 500 people across New York, San Francisco, and San Jose, a clear indication that OKX is betting big on the American market, despite its rocky regulatory past.
In February, OKX agreed to pay $500 million in penalties to settle allegations it had operated as a money-transmitting business without proper authorization. That settlement cleared a major roadblock, allowing the exchange to formally relaunch in the U.S. this past April.
OKX isn’t alone in its IPO ambitions. Earlier this month, Bullish, another crypto exchange with backing from billionaire investor Peter Thiel, confidentially filed for an IPO. The filings point to renewed confidence in public markets as crypto firms seek to bridge digital assets with traditional finance.
OKX’s native token, OKB, has also been moving in tandem with the news. It was last trading at $53.86, up nearly 6% on the day, while its 24-hour trading volume spiked more than 430% to $35.6 million. OKB’s market cap has now crossed $3.2 billion, a clear sign that investors are paying attention as IPO talks gain momentum.
If OKX does go ahead with a U.S. listing, it could become one of the most talked-about public debuts in crypto since Coinbase in 2021. It also shows how much the regulatory climate in the U.S. is shifting, from resistance to a more collaborative approach with crypto firms that are willing to play by the rules.
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