Citadel invests $400 million in Crypto.com
Citadel Securities made a $400 million investment in Crypto.com, valuing the Singapore-based exchange at about $20 billion and marking its first institutional investment since the firm was founded ten years ago. Citadel aims to help Crypto.com expand beyond spot trading into futures, options and tokenization of traditional assets to support round-the-clock, cross-asset trading. Crypto.com serves more than 150 million users, offers a Visa card and mints the Cronos token, and reported about $1.5 billion revenue in 2024; the deal mirrors Citadel's earlier stake in Kraken and emphasizes infrastructure over short-term crypto prices.
Citadel valued Crypto.com at $20 billion after a $400 million investment.
Context
Crypto markets have cooled amid fears of interest rate hikes. Coinbase shares fell nearly 60% in the past year. Citadel's stake now positions Crypto.com for trading and tokenization expansion and possible future listing.
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