Citadel Securities Invests $400 Million in Crypto.com at a $20 Billion Valuation
Crypto.com, one of the world's largest cryptocurrency trading platforms, has received a $400 million investment from Citadel Securities. This marks the first institutional investment since its founding ten years ago and values the company at $20 billion. The move comes amid broader market uncertainty due to fears over interest rate hikes, which have led to declines in crypto-related stocks like Coinbase. Crypto.com differentiates itself by operating globally with regulatory approvals across multiple jurisdictions, similar to Binance rather than U.S.-based Coinbase. It serves 150 million users and offers a range of services including trading platforms, a prepaid Visa card linked to cryptocurrency balances, DeFi tools, and even stock and ETF trading. Citadel's investment is aimed at expanding Crypto.com beyond crypto into futures and options markets while tokenizing traditional assets on its blockchain. The valuation appears high compared to Coinbase’s price-to-sales ratio but aligns with Citadel’s prior $20 billion stake in Kraken.
Topics: cryptocurrency investments market_analysis