NYSE Owner Invests in Crypto Firm at $25 Billion Valuation (1)

Intercontinental Exchange Inc. acquired a stake in OKX in a deal that values the cryptocurrency exchange operator at $25 billion.

ICE, which owns the New York Stock Exchange, invested roughly $200 million in OKX, according to people familiar with the matter who asked not to be identified citing private details. ICE will get a seat on OKX’s board, the companies said Thursday in a statement that didn’t disclose terms.

Representatives for ICE and OKX declined to comment on the size of the investment.

The transaction comes about a year after OKX, which runs one of the biggest crypto exchanges, pleaded ...