ICE takes stake in OKX at $25 Billion valuation
Intercontinental Exchange (ICE), owner of the NYSE, is acquiring a stake in crypto exchange OKX, valuing it at $25 billion and securing a board seat. ICE will license OKX's spot prices to launch US-regulated futures products, which OKX will distribute to its 120 million customers. This follows OKX's $504 million penalty for unlicensed US customer transactions. The partnership highlights Wall Street's increasing integration with crypto infrastructure amid evolving regulations as ICE last year invested $2 billion in Polymarket. Read more →
IREN tumbles after unveiling plan to sell as much as $6 billion in stock
Bitcoin miner turned data center play IREN slid this AM after the company upped its at-the-market share sale program to as much as $6 billion, a move that tends to spook investors because it signals potential dilution (even if the company never sells the full amount). IREN said it has already sold about $1 billion under the prior program and would use any new proceeds for growth initiatives, such as hardware purchases and data-center development. Read more →
The company also said it agreed to buy more than 50,000 specialized processing chips from Nvidia, expanding its capacity by about 50%.
Bitcoin outperforms gold and oil in first days of US-Iran war
Conventional wisdom was that war favors gold, oil, and the dollar. Four days of live data say otherwise. BTC absorbed the initial shock, recovered faster than many traditional safe havens, and now tops leaderboards of trillion-dollar assets since the early morning hours of Saturday. Read more →
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