Morning Minute: OKX Raises at $25B From Circle, Ripple, and StanChart

OKX raised a $25 billion pre-money valuation round, with funding from Circle, Ripple, Standard Chartered’s venture arm, and trading firm Qube Research, according to Morning Minute. The disclosed total investment was not specified. The round follows a March investment from Intercontinental Exchange, owner of the New York Stock Exchange, at the same price. The newsletter connects the backers’ businesses—Circle’s USDC, Ripple’s payments and RLUSD, and Standard Chartered’s role with BlackRock’s tokenized Treasury fund—with OKX’s push to become a broader financial technology platform. It also notes OKXICE’s filing to launch 24/7 tokenized stock trading of 63 U.S. companies settled with stablecoins, plus an app paying 10% on dollar stablecoins. Abstract is shutting down its L2 on December 15, and crypto majors fell 3–5% after an evening selloff, with BTC around $83.6k.