Crypto.com, the Singapore-based crypto exchange, has made a significant move to bridge digital and traditional finance by acquiring the U.S.-based broker-dealer Watchdog Capital. This acquisition sets the stage for Crypto.com to offer stock trading to its American clients.
Watchdog Capital is headquartered in New Hampshire and is fully registered with the Securities and Exchange Commission (SEC) as well as a member of the Financial Industry Regulatory Authority (FINRA), an organization that oversees broker-dealer regulations to ensure the integrity and stability of the financial industry.
Kris Marszalek, CEO of Crypto.com, described the acquisition as a “monumental step” in connecting crypto assets with traditional finance.
“We’re working tirelessly to blend traditional financial tools with digital financial solutions while focusing on responsible growth through the necessary licenses and registrations to operate as an industry leader,” Marszalek said. “We remain highly optimistic about the U.S. market’s future, especially as bipartisan support for our sector continues to grow. Acquiring Watchdog Capital significantly expands Crypto.com’s capabilities with a fully regulated broker-dealer.”
Marszalek further stated that Crypto.com aims to introduce stock trading, including options, by the end of the year for U.S.-based traders.
The announcement of Crypto.com’s acquisition coincided with a major political event—Donald Trump’s victory in the U.S. presidential election. Trump secured 277 electoral votes, clinching the win, with crypto industry leaders expressing enthusiasm even before the official results were confirmed.
Marszalek posted congratulations to Trump shortly after, calling it a substantial victory for the crypto sector. His post went live at 6:00 AM (Italian time), as Trump had roughly 230 electoral votes, while his Democratic opponent Kamala Harris held 209, according to the Associated Press.
Marszalek’s post read:
“Cryptocurrency, at its core, is about individual freedom, and the future of cryptocurrency has never looked brighter than it does today.”
At nearly the same time, Gemini co-founder Tyler Winklevoss wrote on X, “We’re on the brink of a new American Renaissance.” Winklevoss added, “The crypto community is making its mark,” referencing the victory of Republican Bernie Moreno in Ohio, a state Senate race long dominated by crypto-skeptic Sherrod Brown, a noted critic of cryptocurrency and close ally of SEC chair Gary Gensler.
Following his victory, Trump declared his commitment to making the U.S. the “Bitcoin capital of the world,” speaking from West Palm Beach, Florida. During his campaign, he had courted the crypto sector openly, and at the 2024 Bitcoin Conference in Tennessee, he promised to establish a “strategic national reserve of Bitcoin” and predicted that Bitcoin’s market cap might one day surpass that of gold. Additionally, he pledged to replace the current SEC chair, Gary Gensler, an outspoken crypto critic, upon assuming office.
Trump’s win is seen as an ideal outcome for the crypto industry. His promises to support the sector and his election success drove Bitcoin to a record high. According to CoinMarketCap data, Bitcoin surged past $75,397, marking an 8.63% increase within the last 24 hours. Analysts from Bernstein forecast BTC’s value could reach $90,000 under Trump’s administration, while Standard Chartered Bank projects Bitcoin might reach as high as $92,000 to $125,000.
The native token of Crypto.com, CRO, also experienced a substantial rally, jumping by 18.49% in the past 24 hours, reaching a peak of $0.95 before settling at $0.86. The token’s market cap increased to $2.26 billion, with weekly and monthly gains of 10.47% and 4.88%, respectively, underscoring investor confidence in Crypto.com’s expanded capabilities following the acquisition and the political shifts supportive of the crypto landscape.
