Citadel Securities Puts $400M Into Crypto.com at $20B Valuation

Crypto.com has taken its first institutional funding round: $400 million from Citadel Securities at a $20 billion valuation, the exchange said Thursday.

The capital will fund expansion into tokenized securities and derivatives as Crypto.com tries to bridge digital assets and traditional markets, the company said. CEO Kris Marszalek called the opportunity “staggering” as crypto becomes “the rails for finance,” adding that the exchange’s regulatory and tech infrastructure positions it to capture growth across asset classes.

Crypto.com applied for a national trust bank charter last year and has been building an institutional prediction-markets business, hiring traditional-finance executives to lead it.

The deal shows how quickly Wall Street’s largest trading firms have moved into crypto as U.S. regulation has softened.