Citadel Securities has invested $400 million in Crypto.com, valuing the exchange at $20 billion. It is the first institutional capital the platform has raised since launching in 2016.

The check stands out against a sharp pullback in crypto fundraising. Deal counts have collapsed even as a few large platforms continue to attract nine-figure investments.

Citadel Pours $400 Million Into Crypto.com 

The funds will support expansion into new markets. Crypto.com said it plans to move into tokenized securities and derivatives.

Citadel Securities President Jim Esposito called the convergence of traditional finance and digital assets an “exciting evolution” with room to lift market efficiency.

The exchange is not Citadel’s only crypto bet. The market maker invested $200 million in Kraken at a $20 billion valuation in November 2025. 

Crypto Funding Falls to Its Lowest Since 2020

The Citadel deal runs against a retreat in crypto fundraising. Crypto companies closed 61 funding rounds in June, according to CryptoRank. That was the lowest monthly total since November 2020, when 49 rounds were recorded.

Round counts fell 31.5% from May’s 89 deals. In addition, the June figure sat 72% below the record of 218 rounds set in March 2022.

Monthly capital raised tells a similar story. June’s $1.44 billion dropped sharply from May’s $3.89 billion.

July has shown little change so far. Projects had raised $763.8 million by mid-July, keeping the sector near June’s subdued levels.

The figures point to a market splitting along size. Incumbent exchanges are drawing nine-figure checks, while the broader field sees fewer deals. The coming months will show whether that gap narrows or settles into a longer pattern.

Source: BeInCrypto