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OKX Targets US IPO After $505 Million DOJ Accord
OKX Targets US IPO After $505 Million DOJ Accord

Arabian Post

time23-06-2025

  • Business
  • Arabian Post

OKX Targets US IPO After $505 Million DOJ Accord

OKX is considering a US initial public offering following its April relaunch in America, which came after the exchange paid a total of $505 million to settle Department of Justice charges for operating without a money-transmitting licence. The settlement comprised an $84 million fine and the forfeiture of $421 million in earnings, predominantly drawn from institutional activity. The Seychelles-based platform formally pleaded guilty to US anti‑money‑laundering and Know Your Customer deficiencies, marking a significant compliance turnaround. Its re-entry strategy included appointing Roshan Robert, former Barclays director, as its US CEO and establishing a regional headquarters in San Jose, California. The focus is on a phased rollout of a centralised exchange and the OKX Wallet, which supports 130 blockchains and a DEX aggregator with access to more than 10 million tokens. Insiders suggest that buoyed by regained US compliance and growing user demand, OKX is now assessing an IPO as early as the first quarter of 2026. Such a move would mark its shift from a privately held crypto entity to a publicly accountable company, increasing transparency and potentially assuring investors and regulators alike of its commitment to best practice. ADVERTISEMENT Industry observers note that OKX's ambition aligns with broader trends in the crypto space. Rivals such as Coinbase underwent similar transitions, leveraging IPOs to enhance visibility and unlock capital for product development. OKX's path, however, is distinguished by its heavier regulatory baggage and the scale of its US re-entry, which could either strengthen its credibility or raise fresh scrutiny. Market analysts highlight several factors that could influence the success of an IPO. These include OKX's ability to sustain compliance upgrades, the performance of its US exchange and wallet division, and the overall sentiment in financial markets towards regulated crypto firms. The firm's leadership anticipates that demonstrating stringent compliance and deep liquidity will be pivotal in securing investor confidence. According to statements from OKX's Star Xu, the exchange aspires to become 'the gold standard of global compliance at scale,' an ambition underscored by its decision to engage a compliance consultant post‑settlement. The timing of the potential IPO is crucial. Market conditions in early 2026 will determine valuation and investor appetite, particularly if macroeconomic headwinds or equity market volatility persist. OKX will also compete for attention with other crypto entrants, including those preparing to go public or seeking regulatory approval for spot Bitcoin ETFs. OKX insiders stress that success hinges on execution in several areas: maintaining licence approvals in multiple jurisdictions, expanding US user adoption, and integrating fiat ramps to bolster accessibility. The San Jose hub is positioned as a central node for regulatory engagement, staff expansion, and innovation, with the US team reportedly growing aggressively since April. Should OKX proceed with an IPO, it will signal a full-circle moment—from prosecution and penalties to listing on a major US exchange. The move would also put it in direct competition with publicly traded peers, raising expectations for quarterly reporting, rigorous audits, and adherence to US securities law. Regulators will likely scrutinise OKX's filings, probing its past compliance gaps and evaluating its new internal controls. Investors and analysts will examine user metrics, trading volumes, fee structures, and the viability of the wallet service as revenue drivers. The success or failure of OKX's US debut could shape the narrative for other non-US crypto exchanges contemplating public listings.

Tech IPO smash reveals something shocking
Tech IPO smash reveals something shocking

Miami Herald

time07-06-2025

  • Business
  • Miami Herald

Tech IPO smash reveals something shocking

Last week, a company that most people outside of the crypto field hadn't heard of became the toast of Wall Street. Circle Internet Group (CRCL) , typically referred to as Circle, is a peer-to-peer digital payments company, but it's best known for issuing the Stabecoin, a digital asset whose value is pegged to the U.S. dollar. The newly minted stock began trading on the New York Stock Exchange on June 5, quickly catching the attention of many investors. Don't miss the move: Subscribe to TheStreet's free daily newsletter The market hasn't seen too many tech initial public offerings (IPOs) so far this year, with the exception of artificial intelligence (AI) and cloud computing startup CoreWeave (CRWV) , which began trading in March. The new stock has enjoyed significant growth and has remained in the spotlight as the year's top tech IPO. Now it has a competitor, in the form of a popular fintech platform operating in a fairly niche market. The new CRCL stock didn't take very long to start surging after markets opened on June 5. It quickly began trending upward, and by the end of the trading day, it had skyrocketed 168%, raising almost $1.1 billion as part of its IPO. Related: Heavily shorted AI stock is rapidly climbing the Fortune 500 Shares kept surging on the following day, and the new standout fintech stock closed out trading up almost 30%, trading at more than $107 per share after opening at $69 during its debut. Given the expected range for the week of $27-$28, this performance is highly encouraging as investors hunt for the next breakout tech stock. As a stablecoin issuer, Circle is considered a pure-play crypto stock, putting it in the same category as companies such as Riot Blockchain and MARA Holdings, both of which have risen significantly over the past month. The Trump administration's pro-crypto stance has put these names in the spotlight as some investors turn more bullish. Circle issues stablecoins, a certain type of digital asset created to make it more practical for investors to transact with crypto. As a report from Fidelity summarizes: It's true stablecoins carry risk that may make some investors nervous. But the success of the Circle IPO suggests that sentiment toward them is shifting in a positive direction. More than that, it indicates that Wall Street may be starting to regard Stablecoins more seriously. More Wall Street News: Analyst flags new quantum computing stocks to buySurprising guidance sends CrowdStrike stock reelingAnalyst sets eye-popping Tesla stock price target "Circle's IPO is a major milestone, not just for stablecoins, but it also demonstrates that crypto firms can operate transparently and compliantly in U.S. markets," states OKX CEO Roshan Robert. "It shows the public markets are open to digital asset businesses, but also tests whether they are truly ready to meet investor and regulatory expectations. IPO readiness is no longer theoretical for crypto-native companies; it's strategic." In 2024, few tech companies opted to go public, leading investors to question the future of the industry. As 2025 began, several high-growth tech startups considered public debuts, but so far, the only member of that group to start trading is CoreWeave. Related: One AI stock makes up 78% of Nvidia's investment portfolio Circle's trading debut smash marks a significant development for the industry, as it may help usher in a new wave of tech IPOs, exactly what investors are hoping for. As there still aren't many pre-play crypto stocks, the company may have an opportunity to dominate the space. CEO Jeremy Allaire recently addressed Circle's future on CNBC's Money Movers, highlighting what he believes sets his company apart from others in the space and where its advantages may lie. "To realize our vision, we needed to forge relationships with governments, we needed to work with policymakers," he says. "We've been one of the most licensed, regulated, compliant, transparent companies in the entire history of this industry, and that's served us well." Related: Billionaire fund manager, skeptical of AI, backs shocking stock The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.

'Clear momentum': OKX plots full-scale US comeback
'Clear momentum': OKX plots full-scale US comeback

Yahoo

time23-05-2025

  • Business
  • Yahoo

'Clear momentum': OKX plots full-scale US comeback

Crypto exchange giant OKX is making a return to U.S. soil with its full brand behind the push, this time under the leadership of Roshan Robert, a seasoned TradFi and crypto executive who joined in September 2024 to spearhead the U.S. expansion. 'I joined OKX in September of 2024 with the mandate to build out the franchise here in the [U.S.],' Robert said in an interview with Scott Melker, host of TheStreet Roundtable and The Wolf of All Streets podcast. 'Amongst the roles straddling both TradFi and crypto, I'd like to highlight two... I was at Barclays at a time when the Dodd-Frank regulations were being implemented... [and] was part of the founding team [at Hidden Road] and took on the dual responsibilities of Groups COO and Groups ECO.' Now, he's bringing that dual-background discipline to OKX's U.S. strategy. 'Robust risk management, strong compliance, focus on client money controls and cybersecurity,' he said. Melker noted the significance of this relaunch. 'OKX's previous presence was with OKCoin... It seems like this is a bit different... Is that an accurate assessment?' 'Absolutely,' Robert confirmed. 'It is one single brand and we are coming to the US with a better product.' That 'better product' includes a centralized spot exchange and a Web3 wallet built specifically for U.S. users. 'Right now what we're doing is we're bringing on a centralized exchange for spot markets,' Robert said. 'We're not looking at perps right now because we don't have a DCM... As of now, we plan to really expand our spot market, launch the centralized exchange, have the full wallet tailored for US users.' Robert remains optimistic. 'There is a clear momentum as far as regulatory infrastructure is concerned... Over time we will definitely look to expand the market and expand across multiple areas and multiple products.' On April 16, OKX officially announced its expansion into the United States, marking a significant milestone for the company as it brings its full-scale platform to U.S. users. The exchange launched trading operations across 46 states and Washington, D.C., and simultaneously named Roshan Robert as the new CEO of OKX U.S. Robert, a veteran of Barclays and PricewaterhouseCoopers, will lead the charge from the company's newly established headquarters in San Jose, California. As part of this relaunch, OKX introduced a new self-custody wallet supporting over 130 blockchains and offering features such as token swaps, cross-chain transfers, NFT access, and Web3 dApp integration. 'Clear momentum': OKX plots full-scale US comeback first appeared on TheStreet on May 23, 2025

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