OKX isn’t raising funds this round because they’re short on cash—it feels more like they’re picking teammates. Stablecoins? Partnering with Circle. Payments and cross-border? Ripple. Institutional side? Standard Chartered connections. The $25B valuation is just the result; what’s really worth watching is whether they can build the infrastructure together moving forward. Current CEX leaderboard, fill in the rest yourself: ‣ BN: $75B+ ‣ CB: $50B ‣ OKX: $25B ‣ Kraken: $21B ‣ Upbit: $11B Congrats to @Wangduanniao, the ultimate HODLer!