In a series of posts on X, Kris Marszalek, the founder and CEO of Crypto.Com, has shared how the exchange is thriving and what this means for the future, especially in the US.
Revenue, Profits and User Acquisition:
With over 140 million users, Crypto.com generated a revenue of $1.5B in 2024.
“The business is run in a very efficient way, after salaries and other opex, we have about $1B in gross profit to reinvest in the growth of the platform,” Kris said.
$700M of that profit is used for user acquisition, incentives and branding. This leaves the exchange with a net profit of $300M from operations.
“As everyone else, we also benefited from appreciation of Bitcoin on our balance sheet, strengthening it to all-time-high levels,” Kris added.
The profits generated means Crypto.com is in a position to invest aggressively in case of a market downturn, building business organically and through M&A. According to the executive, the exchange intends to undertake such mergers and acquisitions as part of its growth strategy.
Licenses in over 100 Juridictions:
Kris also highlighted that Crypto.com is number one in terms of acquisition of licenses to operate across diverse terriitories.
Currently, Crypto.com has licenses covering more than 100 jurisdictions and all five continents.
Monetary Authority of Singapore, the Financial Conduct Authority (UK), the Virtual Assets Regulatory Authority (Dubai), the Ontario Securities Commission (OSC), and many others are regulatory bodies that oversee and approve of the exchange’s operations.
The latest addition to this list is the securing of a Virtual Asset Service Provider (VASP) registration from CNV Argentina.
In the US alone, Crypto.com holds more than 40 state Money Transmitter Licenses, registration with FinCEN, a designated contract market (DCM) and derivatives clearing organization (DCO) with the CFTC, among other certifications, Kris highlighted.
Bullish for the Future:
Crypto.com’s global institutional exchange business is the fastest growing in the world.
The 2025 roadmap seeks to, among others, expand the exchange’s product and service offering to include stocks, banking and credit cards, Kris said.
“As part of this, we have acquired companies and licenses to offer derivatives trading in various markets and have already launched stocks and ETF trading in the U.S., with more to come soon,” he added.
Thus, Kris says, that Crypto.com is bullish for the future, especially in the US due to the Trump administration’s enthusiasm:
“My meetings with the President give me confidence that he will deliver on his campaign promise to make the US a global leader in cryptocurrency,” the executive concluded.
Listing Soon?
In response to this thread, several community members highlighted an old X post of Kris’s which states that the exchange will only share numbers when a listing is on the cards:
