Circle vs WAX (Worldwide Asset eXchange)

Circle's Response to the European Commission's MiCA Review Consultation

Circle has published its response to the European Commission's MiCA review consultation, outlining its position on the regulatory framework for stablecoins in the EU.

OKX Raises $25B Valuation with Circle, Ripple, Standard Chartered

Crypto exchange OKX has closed a new funding round at a $25 billion valuation, with Circle, Ripple, Qube Research & Technologies (QRT), and SC Ventures (Standard Chartered's investment arm) joining as investors. The amount invested and equity stakes were not disclosed. The investors are all existing business partners of OKX: Circle issues USDC, Ripple's stablecoin RLUSD is integrated into OKX's order book, QRT provides liquidity, and Standard Chartered custodies BlackRock's BUIDL fund used as collateral. CEO Star Xu framed the round as strategically aligned rather than driven by financial need. The valuation matches the $25 billion from ICE's investment in March, and OKX is considering a US IPO within four years. The company also launched OKX Money to convert local currencies into dollar stablecoins for emerging markets.

• OKX raised new funding at a $25 billion valuation (approx. €22.2 billion).
• New investors include Circle, Ripple, Qube Research & Technologies, and SC Ventures.
• The investment amount and equity stakes were not disclosed.

8-K Financial Filing Analysis for Circle (2026-09-25)

On September 25, 2026, Circle Internet Group, Inc. announced significant executive and governance changes. Co-founder P. Sean Neville resigned from the Board of Directors effective immediately for personal reasons, reducing the Board's size from eight to seven members as part of a board refreshment initiative. Concurrently, Chief Financial Officer Jeremy Fox-Geen notified the company of his decision to step down by December 31, 2026, or upon the appointment of a successor. Circle has engaged an executive search firm to identify its next CFO. In connection with his planned departure, Circle entered into a post-termination separation agreement granting Fox-Geen $1,050,000 in cash severance over 12 months, accelerated vesting on two months of RSUs, and extended option exercise terms in exchange for non-compete and non-solicitation covenants.

• Co-founder P. Sean Neville resigned from the Board of Directors effective September 25, 2026, reducing the Board size from eight to seven members.
• CFO Jeremy Fox-Geen will step down by December 31, 2026, while continuing on his $500,000 annualized base salary and maintaining eligibility for a 110% target annual incentive award during the transition.
• Separation terms for the departing CFO include $1,050,000 in aggregate cash severance paid over 12 months, two months of accelerated RSU vesting, a 12-month post-termination option exercise extension, and 12-month non-compete / 24-month non-solicitation covenants.