Cryptocurrency exchange OKX has raised new funding at a valuation of $25 billion. A recent Bloomberg report said Circle, Ripple, SC Ventures under Standard Chartered, and London-based quant hedge fund Qube Research & Technologies (QRT) participated. The size of the investment was not disclosed. The funding follows an extension of a March funding round in which Intercontinental Exchange invested about $200 million at the same valuation.

Concerns are rising that U.S. cryptocurrency regulation could swing with election outcomes. Former New York Governor Andrew Cuomo said Congress should quickly produce bipartisan digital asset legislation that can endure changes in administration. He argued the current framework relies more on federal agencies’ administrative actions than on congressional law, leaving rules politically vulnerable. Cuomo warned uncertainty hurts companies, investors and consumers, and urged the next Congress to pass legislation authorising digital asset activity.