A New $400 Million Investment From Citadel Securities Values Crypto.com at $20 Billion.
Here’s What That Means For Crypto
Crypto.com, one of the world’s largest cryptocurrency trading platforms, was recently valued at $20 billion after a $400 million investment from Citadel Securities. That marked the company’s first-ever investment from an institutional investor since its founding ten years ago. Citadel’s investment in Crypto.com is interesting, since it comes at a time when fears of interest rate hikes are chilling the cryptocurrency market.
That’s why Coinbase’s (NASDAQ: COIN) stock has declined nearly 60% over the past 12 months. Let’s see what Citadel’s big investment in Crypto.com tells us about the broader crypto market. What sets Crypto.com apart from other crypto exchanges?