Crypto.com Hits $20B Valuation After Citadel Backing

Citadel Securities invested $400 million in Crypto.com, valuing the digital asset exchange at $20 billion. Crypto.com plans to use the funding to expand blockchain-based securities and derivatives services. The companies aim to strengthen connections between digital assets and traditional financial markets. CEO Kris Marszalek noted the company had developed the necessary regulatory framework.