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

Citadel Securities has announced a $400 million investment in Crypto.com. According to CoinDesk, the deal marks Crypto.com's first institutional investment since its founding in 2016 and values the company at $20 billion. Crypto.com stated that the funding will be used to accelerate its expansion into security tokens, derivatives, and other asset classes. The company added that it is developing new products in areas such as prediction markets and tokenized real-world assets (RWA).