Crypto.com has secured a $400 million strategic investment from Citadel Securities, according to a company announcement. The 10-year-old exchange, which serves tens of millions of users, stated its post-funding valuation reached $20 billion. CEO Kris Marszalek expressed gratitude for the partnership, noting the opportunity to drive institutional adoption. Citadel Securities President Jim Esposito said the exchange has built a foundation for the continued institutionalization of digital assets. The funding aims to support expansion into tokenized securities and derivatives. Following the news, Crypto.com’s native token CRO surged nearly 25% before settling above $0.06, though it remains over 93% below its all-time high of $0.89.
Crypto.com, a cryptocurrency exchange operating for a decade with tens of millions of users, announced a strategic $400 million investment from Citadel Securities. The company stated that its valuation after the funding round was $20 billion.
Kris Marszalek, co-founder and CEO of Crypto.com, expressed gratitude for working with Citadel Securities. He hopes to continue collaborating on future projects to drive the crypto industry into a new era of institutional adoption.
“The size of the opportunity in front of us is staggering, as crypto increasingly becomes the rails for finance. Having built the right regulatory and tech infrastructure over the last decade, Crypto.com is now perfectly positioned to capture this new wave of growth across all asset classes,” he added.
Jim Esposito, President of Citadel Securities, noted that Crypto.com had developed a “foundation to support the continued institutionalization of the digital asset market.” He believes the convergence of traditional financial organizations and cryptocurrency infrastructure presents an “exciting evolution” that could “further improve market efficiency.”
The funding is expected to enhance the crypto exchange’s expansion into all asset classes, including tokenized securities and derivatives. The company aims to bridge the gap between cryptocurrencies and traditional markets to create a more efficient 24/7 financial ecosystem.
Crypto.com’s native token reacted with an immediate surge that drove it higher by almost 25%. It traded at around $0.056 before it rocketed to $0.07, where it was immediately halted and now sits above $0.06.
Nevertheless, CRO remains down by over 93% since its all-time high at $0.89, marked nearly five years ago.
