Citadel Securities invested $400 million in Crypto.com at a $20 billion valuation, according to an announcement on Thursday. The funding will accelerate Crypto.com's expansion into tokenized securities and derivatives as blockchain technology disrupts traditional finance. This marks Crypto.com's first institutional funding round in its decade-long history, CEO Kris Marszalek stated, calling the move part of crypto's evolution into "a new era of institutionalization."
Crypto.com Raises First Institutional Round After Decade of Limited Funding
Despite being one of the largest global crypto exchanges, Crypto.com has raised relatively modest capital compared to competitors. The company previously secured a $13 million early-stage round and a Series A and angel round where amounts were undisclosed, according to PitchBook. Before rebranding, the firm raised approximately $26.7 million through an initial coin offering in 2017 when the company was known as Monaco. In 2020, Crypto.com deprecated the MCO token and consolidated its ecosystem under the CRO token through a token swap.
Last year, Trump Media & Technology Group (DJT) purchased about 2% of the circulating CRO supply as part of a strategic partnership with Crypto.com, while Crypto.com purchased $50 million worth of Trump Media stock. Trump Media is also involved in launching Trump Media Group CRO Strategy, Inc., through a SPAC deal with Yorkville Acquisition, which plans to build a large CRO treasury potentially totaling billions of dollars. Crypto.com operates a VC arm that expanded its fund to $500 million in 2022.
Citadel Securities Expands Crypto Portfolio With Multiple Exchange Investments
This investment represents Citadel Securities' continued expansion into crypto infrastructure. In November, the firm invested $200 million in U.S.-based crypto exchange Kraken at a $20 billion valuation. Citadel also co-led Ripple's recent $500 million strategic investment round alongside Fortress Investment Group, valuing Ripple at $40 billion. Bloomberg reported that Citadel's investment in Ripple included investor protections granting shareholders the right to sell back equity to Ripple after three or four years at an annualized return of 10%, unless Ripple goes public beforehand.
Citadel Securities is a major backer of Digital Asset, the R&D firm behind the Canton blockchain, having participated in multiple rounds. The firm has a longstanding execution partnership with tokenization firm Alpaca and participated in that startup's $150 million Series D round.
Executives Highlight Convergence of Traditional and Digital Markets
"We are thrilled to work with Citadel Securities to continue driving the crypto industry into a new era of institutionalization," Crypto.com co-founder and CEO Kris Marszalek said. "The size of the opportunity in front of us is staggering, as crypto increasingly becomes the rails for finance."
Citadel Securities President Jim Esposito stated: "The convergence of traditional financial markets and digital asset infrastructure is an exciting evolution with the potential to further improve market efficiency. Crypto.com has built a foundation to support the continued institutionalization of the digital asset market, and we are pleased to collaborate with the Crypto.com team as we help create the capital markets of the future."
Crypto.com Offers Tokenized Stocks and Branded Payment Cards
Crypto.com launched Tokenized Stocks in its core app around June 2026, offering exposure to dozens of U.S. stocks and ETFs. The firm also offers branded Visa prepaid spending and credit cards. By comparison, Coinbase (COIN), the first major crypto exchange to go public, is trading at around a $43 billion market cap.
FAQ
Why did Citadel Securities invest in Crypto.com?
Citadel Securities invested $400 million in Crypto.com to support the exchange's expansion into tokenized securities and derivatives. Citadel President Jim Esposito cited the convergence of traditional financial markets and digital asset infrastructure as an opportunity to improve market efficiency and create future capital markets.
How does Crypto.com's valuation compare to Coinbase?
Crypto.com is valued at $20 billion following Citadel's investment, while Coinbase, the first major crypto exchange to go public, is trading at around a $43 billion market cap.
What other crypto companies has Citadel Securities invested in?
Citadel Securities invested $200 million in Kraken at a $20 billion valuation in November and co-led Ripple's $500 million funding round at a $40 billion valuation. The firm is also a major backer of Digital Asset, the developer behind the Canton blockchain, and participated in tokenization firm Alpaca's $150 million Series D round.
