Crypto.com announced on Thursday that Citadel Securities has invested $400 million in the cryptocurrency exchange. The investment values the company at $20 billion and marks the first time the exchange has raised funds from institutional investors.
The company stated it intends to use the capital to support expansion into new asset classes, including derivatives and tokenized securities. Crypto.com CEO Kris Marszalek said the investment comes as digital assets increasingly serve as infrastructure for the broader financial sector.
Citadel Securities, a global market maker founded by Ken Griffin, indicated the move reflects a growing intersection between traditional finance and digital markets. Citadel Securities President Jim Esposito stated that the integration of these infrastructures has the potential to improve market efficiency.
The funding occurs amid ongoing price volatility in the digital asset market, with Bitcoin down nearly 27% this year. While some financial institutions have avoided the sector following historical collapses, other firms like Coinbase have recently diversified by adding traditional stock trading to their platforms.