OKX says it won’t go public until it can deliver returns to investors

OKX intends to postpone its initial public offering (IPO) until it is certain it can provide consistent returns to shareholders, according to Haider Rafique, the firm's general manager and chief marketing officer. This stance comes despite a recent $25 billion valuation tied to a strategic investment with Intercontinental Exchange (ICE), the parent company of the NYSE. Rafique stated that OKX intentionally priced its funding round conservatively, even suggesting they underpriced themselves relative to revenue growth and assets, as the focus is on long-term shareholder value. He expressed concern that poor performance of existing publicly listed crypto companies, citing one stock that dropped 50%, is detrimental to the entire crypto industry. OKX is prioritizing its global expansion, particularly in derivatives, and building out its infrastructure for tokenized financial assets through its ICE partnership, viewing a long-term building strategy as crucial for durability before considering a public listing.

(Source：CoinDesk)