WuBlockchain
OKX has raised a new funding round at a $25 billion valuation, with Circle, Ripple, Standard Chartered's SC Ventures and Qube Research & Technologies among the investors. The round size was not disclosed.
Why it matters
The financing brings crypto firms, a bank-backed venture arm and a quantitative hedge fund into OKX's investor group. It follows a March investment of about $200 million from Intercontinental Exchange, the parent of the New York Stock Exchange, at the same valuation.
Market impact
OKX said it will use the new capital to strengthen its long-term market infrastructure. The undisclosed round size leaves the scale of the latest financing unclear, while the unchanged valuation provides a reference point against ICE's March investment.
Frequently asked questions
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What valuation did OKX reach in the new funding round?
OKX raised the new round at a $25 billion valuation.
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Which investors participated in OKX's new round?
The named investors include Circle, Ripple, Standard Chartered's SC Ventures and Qube Research & Technologies.
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How large was the new OKX funding round?
The size of the round was not disclosed.
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How does the new financing relate to OKX's March raise?
It extends the March financing, when Intercontinental Exchange invested about $200 million at the same $25 billion valuation.
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What does OKX plan to do with the new capital?
OKX said it will use the capital to strengthen its long-term market infrastructure.
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