Deals
Crypto.com raises $400 million from Citadel Securities at $20B valuation
Crypto.com raised $400 million from Citadel Securities, the market-making giant, the company announced on July 16. The investment values the crypto exchange at $20 billion. Crypto.com plans to direct the new capital toward growth across asset classes, including its prediction markets business. The company also highlighted newer products in development such as tokenized real-world assets. The deal signals growing institutional interest in event contracts as regulated venues scale.
Why this matters?
Citadel's backing gives Crypto.com the balance-sheet depth to advance its prediction markets business under new Managing Director Iskandar Vanblarcum, heightening competition with Kalshi following its $1 billion round.
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