Intercontinental Exchange Inc (NYSE:ICE) has taken a stake in crypto exchange OKX at a $25 billion valuation and will take a board seat, the companies announced Thursday.
OKX’s native token OKB spiked roughly 50% on the news, surging from around $78 to $120 before quickly reversing back toward $92.
The deal started with a meeting last summer between OKX global managing partner Haider Rafique and ICE chairman Jeffrey Sprecher. What was supposed to be a 30-minute conversation reportedly turned into a four-hour session.
What Traders Get
OKX’s roughly 120 million users will get access to ICE’s U.S. futures and tokenized equities markets, with rollout expected in the second half of 2026.
ICE will license OKX’s spot crypto prices to launch U.S.-regulated crypto futures contracts.
Sprecher said the deal will help “accelerate our plans …