- OKX is considering an initial public offering (IPO) in the United States after relaunching its services in the country.
- The exchange resumed U.S. operations in April and is exploring a potential listing on a local stock exchange.
- Thai regulators plan to block OKX and four other exchanges, advising users to manage their assets before the service cut-off.
- Circle, the issuer of USDC stablecoin, recently saw its shares surge after its successful IPO on the New York Stock Exchange.
- Coinbase stock, which has traded publicly since 2021, closed at $308.40 on Friday, about 19% lower than its debut price.
OKX, a major global cryptocurrency exchange, is evaluating the possibility of launching an initial public offering (IPO) in the United States, according to a recent report. The company relaunched its services to U.S. customers in April and is considering a listing on a local stock exchange.
The report states that OKX is following trends in the crypto sector, where companies are raising funds through public markets at high valuations. The recent stock market rally in the crypto sector has reportedly exceeded expectations within the industry. When contacted by Cointelegraph, OKX chose not to comment on its IPO considerations.
While weighing its U.S. listing, OKX is also facing regulatory issues in Thailand. The Thai Securities and Exchange Commission announced in late May that it would block OKX—along with Bybit, 1000X, CoinEx, and XT.COM—from operating in the country. In its statement, the agency urged investors using these platforms to take action with their assets before the shutdown.
In the U.S., Circle, the issuer behind the USDC stablecoin, completed a successful IPO on the New York Stock Exchange. Shares opened at $69 and peaked at $248.90, representing a nearly 250% increase within days of the launch (source). Coinbase, a cryptocurrency exchange and USDC partner, has been publicly listed on the Nasdaq since April 2021. As of last Friday, Coinbase shares closed at $308.40, about 19% below their initial public trading price (source).
This is a developing story and updates will be provided as more information becomes available.
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