Citadel Securities invested $400 million in Crypto.com at a $20 billion valuation, announced Thursday. The market maker founded by billionaire Ken Griffin acquired a stake in the Singapore-based exchange, which said the capital will fund expansion into tokenized securities and derivatives. This marks Crypto.com's first institutional funding round since its 2016 founding and reflects Wall Street's growing involvement in crypto infrastructure, following Citadel's $200 million investment in rival exchange Kraken last November and similar moves by Intercontinental Exchange, Nasdaq, and others.
Kris Marszalek, Crypto.com's co-founder and CEO, said the investment pushes the industry into "a new era of institutionalization," describing the opportunity as "staggering, as crypto increasingly becomes the rails for finance." Jim Esposito, Citadel Securities President, called the convergence of traditional financial markets and digital asset infrastructure "an exciting evolution" with potential to improve market efficiency.
Citadel Securities Expands Crypto Portfolio with Kraken and OKX Investments
Citadel Securities put $200 million into rival exchange Kraken last November, alongside market-making competitor Jane Street. Intercontinental Exchange, which owns the New York Stock Exchange, has taken a stake in OKX. Nasdaq invested $50 million in Gemini. Both Citadel and Crypto.com framed the partnership around tokenized securities and derivatives — moving stocks, bonds, and other assets onto blockchain rails for around-the-clock trading. Coinbase added stock trading for U.S. users in February, illustrating crypto firms' expansion into full-service financial platforms.
Crypto.com Ranks 11th by Volume and Wins US Bank Charter Approval
Crypto.com ranks 11th among exchanges by trading volume, according to CoinMarketCap, and offers crypto, stocks, and prediction markets to retail traders. In February, the exchange won conditional approval for a U.S. national trust bank charter. Crypto.com has built ties to the Trump administration: it is a business partner and investor in Trump Media & Technology Group, has donated millions to a political committee backing the president, and saw its affiliated CRO token used to pay $1 million in bonuses to winners of a UFC bout staged on the White House lawn.
Bitcoin Down 28% This Year as Crypto Market Reaches $2.2 Trillion
Citadel's investment arrives as crypto prices decline. Bitcoin is down 28% this year. The broader crypto market sits at around $2.2 trillion, according to CoinGecko data.
FAQ
What did Citadel Securities invest in Crypto.com?
Citadel Securities invested $400 million in Crypto.com at a $20 billion valuation, announced Thursday. This is Crypto.com's first institutional funding round since its 2016 founding. The capital will fund expansion into tokenized securities and derivatives.
Why is Wall Street investing in crypto exchanges?
Citadel Securities previously invested $200 million in Kraken last November. Intercontinental Exchange, which owns the New York Stock Exchange, has taken a stake in OKX. Nasdaq invested $50 million in Gemini. Jim Esposito, Citadel Securities President, said the convergence of traditional financial markets and digital asset infrastructure has potential to improve market efficiency.
How is Bitcoin performing this year?
Bitcoin is down 28% this year. The broader crypto market sits at around $2.2 trillion, according to CoinGecko data.
