Citadel Securities invests $400M in Crypto.com at $20B valuation

Crypto.com announced a $400 million investment from Citadel Securities, valuing the cryptocurrency exchange at $20 billion. The company says this marks its first institutional funding round in its ten-year history.

According to a press release, the funding is intended to support Crypto.com's expansion into additional asset classes, including tokenized securities and derivatives.

Kris Marszalek, co-founder and CEO of Crypto.com, said the company has "built the right regulatory and tech infrastructure over the last decade" to position itself for growth across asset classes.

Jim Esposito, president of Citadel Securities, said the firm is "pleased to collaborate with the Crypto.com team" as part of what he described as a convergence between traditional financial markets and digital asset infrastructure.

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