Key Insights:
- ICE invests in OKX at $25B valuation, expanding ties between traditional finance and crypto markets.
- Kraken secures Federal Reserve payment access as U.S. banks raise concerns about crypto institutions entering system.
- Bitcoin miners increase BTC sales while Ethereum staking queue rises as investors choose locking over selling.
Intercontinental Exchange, the parent company of the New York Stock Exchange (NYSE), has invested in cryptocurrency exchange OKX at a $25 billion valuation. The deal gives Intercontinental Exchange a seat on OKX’s board of directors. The size of the investment and other terms were not disclosed.
OKX will provide Intercontinental Exchange with real‑time price data for digital assets traded on its platform. The exchange also plans to allow users to trade tokenized stocks and derivatives listed on the NYSE. The service is expected to launch in the second half of 2026. An OKX corporate affairs partner said the company may move up to 2,000 of its 5,000 employees to the United States, though no timeline was given.
Kraken Gains Access to Federal Reserve Payment System
Kraken said its banking arm has received access to the Federal Reserve’s core payment systems. The firm becomes the first crypto company able to use the same payment rails used by thousands of banks and credit unions in the United States.
The Federal Reserve Bank of Kansas City granted Kraken Financial a limited master account for one year. The account does not include credit services such as overdrafts or discount window access, and reserves do not earn interest. Banking groups reacted quickly after the approval. U.S. banking organizations said they have “deep concerns” about granting such access before clear policy rules are finalized.
Bitcoin Miners Increase BTC Sales
Bitcoin mining companies holding more than $8 billion in BTC have increased coin sales after prices dropped over 40% from the October peak near $126,000. Miner data shows public companies have sold more than 15,000 BTC since October.
Cango sold 4,451 BTC in February, about 60% of its holdings. Bitdeer cleared its entire BTC treasury last month. Riot Platforms carried out several sales in December, while Core Scientific plans to sell around 2,500 BTC in the first quarter. Some miners are directing funds toward AI data center businesses.
Ethereum Staking Queue Reaches Record Level
The Ethereum validator queue has grown to about 3.4 million ETH waiting to join the network. The wait time to enter the validator set is estimated at up to 60 days. Earlier in January, the queue stood near 904,000 ETH.
Market participants say the rise shows large investors and exchanges prefer staking rather than selling during market swings. Interest in Ethereum’s use in payment systems and AI‑related services has also supported staking demand.
Other developments during the week include Donald Trump calling for the quick passage of the Clarity Act. He said banks are trying to weaken the GENIUS Act and added that “the United States must finalize market structure legislation.”
JPMorgan expects the Clarity Act to pass around mid‑year. Ray Dalio said Bitcoin is “not suitable as a long‑term store of value.” Visa continues to lead crypto card payments with $717.9 million in transaction volume.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/news/crypto-weekly-nyse-backs-okx-kraken/
