Crypto.com receives a $400 million investment from Citadel Securities, with a valuation of $20 billion

Cryptocurrency trading platform Crypto.com has received a $400 million investment from Citadel Securities, bringing the company's valuation to $20 billion. This round of funding is Crypto.com's first institutional financing since its establishment in 2016.

Crypto.com stated that it will use the funds to expand its business in tokenized securities, derivatives, and other asset classes.