Citadel Securities invests $400 million in Crypto.com at $20 billion valuation
The Block·
60-second summary
Citadel Securities invests $400 million in Crypto.com at a $20 billion valuation, marking the exchange's first institutional funding round. Crypto.com plans to utilize the proceeds to expand its tokenization and derivatives operations, further solidifying its position in the burgeoning digital assets space, which is expected to drive growth and adoption in the cryptocurrency market.
Crypto.com plans to use proceeds from its “first institutional funding round" to expand its tokenization and derivatives operations.