A New $400 Million Investment From Citadel Securities Values Crypto.com at $20 Billion. Here's What That Means For Crypto.
The market maker wants to accelerate the cryptocurrency exchange's expansion.
Overview
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.
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Originally published at www.fool.com.