Citadel Securities invested $400 million in Crypto.com, valuing the exchange at $20 billion. The deal is one of the largest institutional investments in a crypto exchange.
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Citadel Securities put $400 million into Crypto.com, a deal that values the exchange at $20 billion. The investment comes from one of the largest market-making firms in traditional finance, not a crypto-native fund.
Crypto.com has not released a breakdown of how the money will be used. No product launches, geographic targets, or timeline have been announced. The company declined to comment on specific plans beyond the funding round.
The $20 billion valuation puts Crypto.com in a tier with the biggest crypto exchanges. The deal is among the largest direct investments by a traditional financial institution into a digital asset platform. It follows a series of similar moves by banks and market makers buying into crypto custody, settlement, and exchange infrastructure.
Citadel Securities, which handles roughly a quarter of U.S. equity trading volume, has been expanding its digital asset footprint. The firm previously provided liquidity to crypto market makers and explored direct crypto trading. This investment marks its first equity stake in a crypto exchange.
For Crypto.com, the capital arrives after a period of heavy spending on brand deals and technology. The exchange has pushed into institutional services, including custody and over-the-counter trading, competing with Coinbase and Binance. The fresh funding gives it room to scale those operations without immediate pressure from revenue or token sales.
The deal closed in recent weeks. No further terms were disclosed.
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