OKX, a crypto exchange, plans to launch an Initial Public Offering (IPO) to enter the US market as a public company. Just two months prior, OKX settled all of its lawsuits with US authorities and is already starting to relaunch its crypto operations in the US market. OKX is excited to make a quick turnaround from being accused of regulatory violations to being accepted again by investors. OKX agreed with the Department of Justice (DOJ) to pay a settlement of $504 million in penalties.
Crypto journalist Yueqi Yang wrote on X that OKX, one of the top three global crypto exchanges, “will consider an IPO in the U.S. after relaunching in the U.S. in April. From IPOs to crypto treasury stocks, crypto is booming right now, but the rally is playing out in the stock market, at valuations that even surprised industry insiders.”
US authorities allowed OKX exchange to continue operations in America after the company agreed to restructure its policies to comply with regulations, including a settlement payment of $504 million to the DOJ. OKX officially re-entered the US market in April 2025. US shareholders will now be able to access a crypto ecosystem with one of the world’s biggest user bases. An IPO further aligns OKX with strict regulatory requirements, instilling trust in traditional investors. The move may further introduce investors to cryptocurrencies and raise awareness of blockchain business models. The Trump administration has encouraged crypto businesses to relocate to America. Crypto-based IPOs have become a new craze in the business world, alongside Bitcoin treasuries.
OKX has shown various initiatives to prove its long-term interest in the US market, including opening a regional department in San Jose, California. Roshan Robert, US CEO of OKX, has been appointed head strategist to lead the crypto operations in America. Robert has had extensive experience in the finance industry, including senior executive positions at Barclays and a career at Morgan Stanley. Robert said he wants to create a “super app” for the US market. This may refer to a similar concept of Elon Musk’s “everything app”, which includes an assortment of services in one app. Robert wishes to move the company forward from being an offshore crypto company to an established business in the US. American regulatory bodies have become supportive of the crypto industry, dispelling uncertainty when regulating crypto businesses such as OKX. Many exchanges have avoided America to bypass the inherent drama that comes with the environment. However, OKX has volunteered to allow US regulators to open up their business model and scrutinise it with a fine-tooth comb.
The US stock market can offer many benefits to the OKX exchange, such as introducing traditional investors to the crypto market in a controlled environment and introducing an element of trust to a trustless financial innovation. The timeline for the IPO is not clear yet, and the SEC has not fully approved the application. However, there have been other crypto businesses that have been successful in their attempts to go public. Gemini, for example, is a crypto company founded by the Winklevoss twins and successfully initiated an IPO in recent months. The news, however, has not been entirely positive for OKX, with Thailand’s SEC shutting down its operations due to not having a license in the country. US approval, therefore, may be a game changer for the crypto exchange because the company has operations across the globe to contend with.
Crypto IPOs have encouraged various crypto businesses to create their public offerings. The big names include Winklevoss’ Gemini, Peter Thiel’s Bullish, and FalcolnX. OKX has taken a humble approach to dealing with US regulators, agreeing to pay over $500 million in penalties as part of a settlement plan. The DOJ accused the crypto exchange of serving US customers without a money transmitter license. OKX made a public statement saying that the company wishes to balance innovation with regulatory compliance, learning from past mistakes, and moving forward with a new business roadmap. From the perspective of a crypto exchange, gaining IPO status and adhering to strict regulations may protect the exchange from further legal challenges from the DOJ officials.