Crypto.com Secures $400 Million From Citadel Securities at $20 Billion Valuation

One of the biggest names in traditional market-making just bought a serious stake in a crypto exchange — and it values the company at $20 billion.

Crypto.com secured a $400 million strategic investment from Citadel Securities, pushing the exchange’s valuation to $20 billion. The deal marks one of the largest single strategic investments a crypto-native exchange has landed from a traditional Wall Street market maker.

Citadel Securities is one of the largest market makers in traditional equities and options, handling a significant share of all U.S. retail stock trading volume — its move into a direct equity stake in a crypto exchange, rather than just trading on one, signals a deeper level of institutional commitment than a typical trading partnership.

The investment lands in the same stretch as several other large funding moves across the industry, including Ethereum Institutional closing its initial ecosystem funding round and MoonPay’s acquisition of cross-chain deposit gateway Glide — part of a broader wave of consolidation and cross-investment between crypto-native firms and traditional finance.

For an exchange, a strategic investor like Citadel Securities brings more than capital — it brings market-making relationships and infrastructure credibility that can matter as much as the check size itself.

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