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Citadel Securities has announced a strategic $400 million investment in cryptocurrency exchange Crypto.com, valuing the platform at $20 billion.
The deal marks Crypto.com's first institutional funding round in its ten-year history. The company plans to use the proceeds to expand its tokenized assets and cryptocurrency derivatives businesses.
"We are thrilled to work with Citadel Securities to continue driving the crypto industry into a new era of institutionalization. The size of the opportunity in front of us is staggering, as crypto increasingly becomes the rails for finance," said Crypto.com CEO Kris Marszalek.
In June 2026, Crypto.com launched its Tokenized Stocks service, providing users with access to dozens of tokenized U.S. stocks and ETFs. The company also continues to expand its Visa card offerings and other financial services.
Despite being one of the world's largest cryptocurrency exchanges, Crypto.com has previously raised relatively modest amounts of external funding. Earlier funding rounds included a $13 million seed investment and the project's 2017 ICO, which took place when the company operated under the name Monaco.
The company said the convergence of traditional financial markets and digital asset infrastructure has the potential to improve the efficiency of global capital markets.
"Crypto.com has built a strong foundation for the continued institutionalization of digital asset markets, and we are excited to work alongside the team as they help shape the capital markets of the future," said Jim Esposito, President of Citadel Securities.
In November 2025, Citadel Securities invested $200 million in cryptocurrency exchange Kraken, which was also valued at $20 billion. The firm additionally participated in Ripple's $500 million strategic funding round and is among the investors in the blockchain project Canton Network.
Earlier, Crypto.com announced a partnership with South Korean payment provider KG Inicis to expand support for cryptocurrency payments in South Korea. The collaboration is expected to strengthen the company's position in one of Asia's largest digital asset markets.