Big Week for Exchanges: Coinbase, OKX and Bitget

Big Week for Exchanges: Coinbase, OKX and Bitget

Author: Phil Yang, Head of BD

Coinbase Stock bought by South Korea’s NPS

The world’s third-largest pension fund, South Korea’s National Pension Service, has bought $19.9 million worth of shares / 282,673 shares (average price $70.4 per share, now $97 per share) in the digital asset company in the third quarter, according to its latest holdings report, submitted to the US Securities and Exchange Commission (SEC) on Nov.16 Wednesday.

The acquisition is the first time that NPS has included any crypto-related security as part of its investment option. Subsequently, the fund holds assets under management that exceed $755 billion. The development also points to the continued trend for crypto, and the company is at the forefront. Traditional finance and investment entities are seeing value in the developing industry.

OKX expands trading with segregated assets under custody

After integrating Copper Clearloop, today OKX, CoinShares and Komainu announced collaboration with regulated digital asset custody service provider Komainu, the digital asset custody arm under Japanese traditional finance giant Nomura and CoinShares, a European digital asset manager, to empower CoinShares to conduct 24/7 trading through the OKX platform while assets are held in segregated custody with Komainu.

The official announcement can be found at

OKX is clearly embracing off-exchange custody, demonstrating a more open and proactive approach in the market. This strategy distinguishes them in the digital asset exchange sector, especially when compared to other major players in the derivatives exchange domain.

Big week for Bitget

Foresight Ventures acquired the Block

Crypto media company The Block sold a majority stake to Singaporean venture capital firm Foresight Ventures in a deal valuing the crypto outlet at $70 million.

Who's Foresight Ventures? It's the asset management arm of Bitget exchange. In 2021, they acquired the top Chinese crypto media previous known as ChainNews and renamed to Foresight news.

The Block has emerged as a prominent crypto media outlet, often considered among the top three, alongside Coindesk and Cointelegraph. There have been reports suggesting that The Block may have received undisclosed funding from Sam Bankman-Fried's Alameda Research during the past two years.

This deal is a win-win, that frees the Block's business from its financial tie to the FTX scandal, while enables Bitget to market its exchange to international audience.

Bitget acquired OSL to enter Hong Kong

Of all the exchanges claimed to get Hong Kong license in April, seems only OKX is moving forward. While Bitget might be the 1st to announce quitting the market.

Two days following the announcement, OSL, a Hong Kong exchange license holder, revealed a substantial investment from BGX. The investment is believed to be from Bitget, as per the announcement on OSL's website. Bitget is set to acquire 42.79% of BC Technology Group's shares, while the current shareholder East Harvest is expected to decrease from 42.77% to 29.96%.

From public info, BGX ( is a crypto group that aims to offer an innovative platform that allows institutional and retail investors to seek investment opportunities in crypto anywhere, anytime. While the CEO Patrick Pan is also the CEO of BitgetX.

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