OKX Holds Off on IPO, Warns Rushed Listing Could Hurt Crypto Industry

OKX is one of the world’s largest crypto-asset exchanges, and a potential U.S. listing is seen as an indicator of the industry’s maturity and capital-market confidence. Coinbase went public through a direct listing on Nasdaq on April 14, 2021, with a reference price of $250 per share. Its shares were highly volatile after the listing, prompting peers to assess the pressures of public markets more cautiously.

OKX recently said it would not rush a U.S. IPO and would proceed only when it can consistently deliver long-term value to shareholders. The company has not disclosed a listing date or fundraising target. In the near term, it will direct resources toward global expansion, trading liquidity and tokenized finance. It also said the valuation attached to Intercontinental Exchange’s investment was deliberately set at a conservative level.