Major Crypto Exchanges Announce IPO Plans, Leadership Changes, and New Projects
Recent developments in the centralized crypto exchange (CEX) sector highlight significant shifts among major players.
OKX Plans IPO
- OKX is preparing for a public offering in the US after a $505 million settlement with the DoJ.
- The exchange aims to expand operations and strengthen its presence in the American market.
- Newly appointed executive Roshan Robert, formerly of Morgan Stanley and Barclays, will lead US expansion.
- OKX employs nearly 500 staff in New York, San Francisco, and San Jose.
- This initiative follows Circle's successful IPO, which saw a stock increase of nearly 300%.
Bybit Leadership Changes
- Bybit has promoted COO Helen Liu to co-CEO, replacing long-time CTO Rockman who has left the company.
- Liu has a background in leadership roles at Nokia and Microsoft.
- Bybit is currently searching for a new CTO to report directly to Liu.
Kraken’s Layer 2 Project Ink
- Kraken's Ink project on Optimism’s Superchain is gaining traction ahead of the INK token launch.
- Daily transactions have exceeded 500,000, and the number of active contracts has nearly doubled in June.
- The fixed supply of INK tokens is set at 1 billion, with a community airdrop planned through Aave liquidity pools.
- Despite the buzz, total value locked remains below $8 million, trailing competitors like Coinbase’s Base.
Coinbase Expands in Europe
- Coinbase has secured a Markets in Crypto-Assets (MiCA) license in Luxembourg, establishing it as a European hub.
- This license allows Coinbase to provide services across all 27 EU member states under unified regulations.
- Coinbase's licensing efforts in Germany, France, and other nations have been consolidated.
- The move positions Coinbase ahead of competitors like Gemini, which is still awaiting license approval in Malta.