Crypto.com raises $400M from Citadel Securities at $20B valuation — its first institutional round

What's the deal? Crypto.com has raised a $400 million strategic investment from Citadel Securities, valuing the company at $20 billion. It is the exchange's first institutional funding round in its decade-long history.

What's the endgame? The company plans to use the funds to expand into all asset classes, including tokenized securities and derivatives. The goal is to bridge digital assets and traditional markets into a 24/7 financial ecosystem.

Why now? Citadel Securities' investment lands as crypto increasingly serves as infrastructure for capital markets. "The size of the opportunity in front of us is staggering, as crypto increasingly becomes the rails for finance," said Kris MarszalekDealroom has a profile for this one. Try Dealroom →, co-founder and chief executive officer of Crypto.com.

Who's backing it? Citadel Securities is a global market maker providing liquidity and execution across financial products. "Crypto.com has built a foundation to support the continued institutionalization of the digital asset market," said Jim Esposito, its president.

The bigger reach: Founded in 2016, Crypto.com says its expansion push spans new use cases including prediction markets and tokenized real-world assets, extending beyond its core exchange business into traditional finance territory.

The signal: The deal marks a deeper convergence of traditional finance and digital assets, with a major Wall Street market maker taking a direct stake in a crypto exchange. It reflects a broader institutionalisation of the sector as crypto moves toward the core of capital markets.

Read more: crypto.com