Citadel Securities has invested $400 million in Crypto.com, valuing the crypto exchange around $20 billion. This sizable all-equity deal is a key milestone, marking Citadel's growing footprint in digital-asset infrastructure. Crypto.com, launched in 2016, is receiving its first institutional funding and aims to channel this capital into expanding tokenized securities, derivatives, and other asset classes.
The investment places Citadel, a major market maker, at the heart of Crypto.com's expansion beyond traditional crypto offerings. Currently ranked 11th globally by trading volume, Crypto.com combines blockchain-based settlement with continuous markets that include cryptocurrencies, stocks, and prediction markets.
Citadel’s journey into crypto markets has accelerated in recent years. After initially holding back due to regulatory concerns in 2021, CEO Ken Griffin shifted strategy, moving toward providing digital-asset liquidity by 2022 while advocating for stronger safeguards. Prior to this latest deal, Citadel backed EDX Markets in 2023 and invested $200 million into Kraken in 2025, offering liquidity support and market-structure expertise. The Crypto.com investment now doubles Citadel’s known strategic stakes in crypto exchanges within eight months.
Crypto.com’s infrastructure development includes conditional approval for a national trust bank charter from the OCC. If finalized, this would enable federally supervised digital-asset custody and settlement, catering especially to institutional demand for regulated custody and tokenized products. Citadel has emphasized maintaining protections for tokenized equities, advocating for fair execution and market transparency in regulatory filings.
