Intercontinental Exchange (NYSE: ICE) – the parent company of the New York Stock Exchange – has made an undisclosed strategic investment in crypto exchange OKX at a $25B valuation.
What's the Scoop?
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Strategic Investment:According to a press release, ICE has made an undisclosed strategic investment into OKX at a $25B valuation that will allow it to license OKX's price feeds for use in ICE futures products. Additionally, ICE will receive a seat on OKX's Board of Directors.
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Tokenization Ambitions:Subject to regulatory approval, the deal will also allow OKX customers to trade ICE's U.S. futures and NYSE tokenized equities markets, providing regulated access to the world's leading financial market.
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Moon That:OKB (the native utility token of OKX) ripped nearly 60% on the deal announcement before retracing a substantial portion of its move. At the time of publication, OKB was holding steady, up approximately 20% interday.
