OKX Raises at $25B With Backing From Circle, Ripple
Decrypt.co reported that OKX raised money at a $25 billion valuation with support from Circle, Ripple and Standard Chartered. The same report also said more than $500 million in crypto longs were liquidated after a late-evening selloff.
Decrypt.co reported that OKX raised capital at a $25 billion valuation, with Circle, Ripple and Standard Chartered among the backers. The report also said more than $500 million in crypto longs were liquidated after a late-evening selloff.
The same Decrypt.co report said Abstract is calling it quits.
Key Takeaways
- Decrypt.co reported that OKX raised money at a $25 billion valuation.
- Circle, Ripple and Standard Chartered were named among the backers.
- The report said more than $500 million in crypto longs were liquidated after a late-evening selloff, and Abstract is calling it quits.
Context
Funding rounds, liquidation events and project shutdowns are common parts of the crypto market cycle. Reports like this can reflect changes in capital flows, market leverage and project activity without indicating broader market direction.
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