This was the exchange’s first-ever institutional funding round. As a result, CRO skyrocketed by 25% in minutes.

The 10-year-old cryptocurrency exchange, with a reported user base of tens of millions, announced a strategic $400 million investment from Citadel Securities.

The statement from the company stated that its valuation after the funding round was $20 billion.

The company’s co-founder and CEO, Kris Marszalek, expressed his gratitude for working with Citadel Securities, hoping to continue to work with the entity on future projects to drive the crypto industry into a new era of institutional adoption.

“The size of the opportunity in front of us is staggering, as…