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Crypto.com hits $1.5b revenue with ongoing token controversy
Crypto.com reported US$1.5 billion in revenue for 2024, with a net profit of US$300 million.
The platform has over 140 million users and remains focused on growth through organic expansion and mergers and acquisitions, even amid potential market downturns.
Meanwhile, Crypto.com faces controversy over its proposal to mint 70 billion CRO tokens to undo a 2021 burn.
Initially struggling to meet the required quorum, the proposal passed after a last-minute surge of votes from Crypto.com-controlled validators. The move angered many CRO holders, who felt trust was broken.
For 2025, it plans to expand into stock trading, banking, and credit cards, building on its recent launches in derivatives and ETF trading.
Crypto.com also remains optimistic about US expansion, citing positive interactions with regulators and government leaders.
Recent Crypto.com developments
| Timeline |
|---|
| 21-Nov-2024 💳 Crypto.com, Triple-A team up for direct crypto buys in SG Crypto.com partners with Triple-A to enable direct crypto purchases at global merchants, enhancing the checkout experience. |
| 15-Nov-2024 💼 Crypto.com acquires Australian brokerage firm Fintek Crypto.com acquires Fintek Securities to broaden its financial services in Australia, enhancing trading and investment options. |
| 06-Nov-2024 🏛️ Crypto.com CEO congratulates Trump on likely election win Crypto.com CEO Kris Marszalek congratulates Trump on his likely election win, highlighting crypto’s future and individual freedom. |
| 03-Apr-2024 🇰🇷 Crypto.com to launch app in South Korea on April 29 Crypto.com launches its app in South Korea on April 29, marking a first for foreign exchanges in the local market. |
| 26-Jul-2023 💹 Crypto.com, Line Xenesis team up for crypto solutions across APAC Crypto.com partners with Line Xenesis to boost crypto innovation and payments across Asia, starting in Japan. |
| 01-Jun-2023 🏦 Crypto.com receives license to offer digital token services in SG Crypto.com secures major payment institution license in Singapore, expanding its digital payment token services. |
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