Crypto.com, the prominent cryptocurrency exchange, has achieved a significant milestone by surpassing 100 million users globally since its inception in 2016.

Despite a decrease in venture capital activity, Crypto.com reports a landmark achievement with over 100 million users worldwide. The platform attributes this remarkable growth to its robust marketing efforts, notably highlighted by its recent Fortune Favors the Brave brand film, as stated in a blog announcement on May 6.

Since the inaugural Formula 1 Crypto.com Miami Grand Prix in May 2022, the Singapore-based exchange has witnessed a doubling of its user base. CEO Kris Marszlek credits engaging campaigns and strategic partnerships for this milestone, emphasizing the effectiveness of such initiatives in driving user acquisition.

However, Crypto.com's venture arm, Crypto.com Capital, has experienced a slowdown in investment activities. With only four deals made since the beginning of 2023, compared to 35 in the preceding two years, Marszalek acknowledges the challenge posed by inflated project valuations. The firm aims to maintain prudence amidst this landscape.

Although Crypto.com boasts an impressive user count, it remains behind competitors like Coinbase and Binance, each with over 110 million and 170 million users, respectively. Despite securing licenses for global expansion, including regulatory approval from Dubai, the exchange faces obstacles in certain markets.

In mid-May, Crypto.com's parent company, Foris DAX MT, was slapped with a €2,850,000 fine by the Dutch central bank for breaching local anti-money laundering and anti-terrorist financing laws. While expressing disappointment, a Crypto.com spokesperson assures that the matter has been resolved without impacting current operations.

Moreover, Crypto.com delayed its entry into the South Korean market in April following reports of a money-laundering investigation. Emphasizing its commitment to stringent anti-money laundering standards, the company clarified that the decision to postpone the launch was aimed at ensuring regulatory compliance and transparency with Korean authorities.