Citadel Securities invests $400 million in Crypto.com, valuing exchange at $20 billion

Citadel Securities has invested $400 million in Crypto.com, marking the platform's first institutional funding round. This investment establishes a $20 billion valuation for the exchange. The capital injection supports Crypto.com as it expands its operations into derivatives and tokenized securities. Meanwhile, reports indicate Kraken's valuation has also reached $20 billion following investment from Citadel Securities, reflecting a broader trend of institutional interest in the crypto sector and increasing competition for Coinbase in the market.