OKX plans US IPO after reentering the market with a $505M DOJ settlement.
Circle and Coinbase stock rallies inspire OKX’s timing and public ambitions.
Regulatory trouble in Thailand clouds OKX’s global expansion despite U.S. momentum.
OKX Exchange has just thrown its hat back into the American ring—and now it’s thinking Wall Street. After reentering the U.S. market in April, the crypto giant seems hungry for more. A $505 million settlement with the Department of Justice paved the road for this comeback. And now? Reports suggest OKX wants to go public in the United States. The timing feels bold, but with stocks like Circle and Coinbase flying high, the exchange may smell opportunity.
https://twitter.com/WuBlockchain/status/1936954991547416728 Circle’s Soaring Debut Lights a Fire
OKX hasn't confirmed the IPO plans. But when Yueqi Yang broke the news, the crypto crowd buzzed. In a post on X, she called attention to the stock market’s sudden appetite for crypto firms. From treasury moves to record IPO pops, the action has clearly shifted from blockchains to Wall Street tickers.Circle has proved that. The USDC issuer didn’t just go public—it launched like a rocket. On June 5, Circle opened at $69. Days later, the price soared to $248.9. That’s a leap worthy of legend. Investors poured in.
Analysts blinked twice. Even insiders didn’t see it coming. OKX must’ve taken notes. Coinbase, Circle’s partner and a fellow U.S. exchange, has been riding its own rally. Shares of Coinbase closed last Friday at $308.4. That’s a 30% surge in just five days. And while COIN trades below its IPO peak, momentum has returned. For OKX, that’s the signal. Go big while the fire still burns.
Trouble in Thailand and Mining Gloom
Not everything looks rosy, though. While OKX explores an American listing, Thailand’s financial watchdog is shutting doors. The Thai SEC plans to block OKX along with four other exchanges. Investors there were told to secure their funds before a looming deadline. It’s a sharp contrast. One side of the globe sees a second chance. The other says goodbye. Still, OKX has always played the long game.
A US IPO could anchor the brand in one of the most lucrative markets on Earth. Meanwhile, crypto mining stocks tell a different story. While exchanges bloom, mining firms wilt. Marathon Digital Holdings dropped from $15.6 to $14.2 last week. Riot Blockchain and Bitfarms sank too—down 3.8% and 7% respectively. The miners, it seems, are stuck in a bear cave while the exchanges bask in sunshine.
So what makes OKX think now’s the time? Maybe it’s chasing Circle’s shadow. Maybe it’s betting that U.S. investors still have an appetite for crypto innovation wrapped in regulation. Or maybe, just maybe, OKX sees itself as the next big ticker everyone will want in their portfolio. Wall Street’s door won’t stay open forever. OKX may have finally found the key.
