Citadel Securities Plans Crypto Push After Trump’s Support

Ken Griffin’s Citadel Securities is preparing to participate the cryptocurrency marketplace arsenic a liquidity provider, expecting that Donald Trump’s pro-crypto stance volition thrust manufacture growth.

Previously, Citadel Securities remained cautious astir crypto, avoiding large exchanges utilized by retail investors owed to regulatory uncertainty.

Citadel Securities, led by CEO Peng Zhao, has grown from a tiny squad into a planetary trading giant. It serves arsenic a marketplace shaper successful stocks, options, firm bonds, Treasuries, and ETFs, competing with apical concern banks.

However, the steadfast plans to go a marketplace shaper connected platforms similar Coinbase, Binance, and Crypto.com. Initially, it volition acceptable up market-making teams extracurricular the U.S., depending connected however regulations evolve.

The displacement comes arsenic Trump moves to presumption the U.S. arsenic the “crypto superior of the planet.” Since taking office, helium has introduced policies favoring integer assets, including appointing SEC Commissioner Hester Peirce, a well-known crypto advocate, to pb a caller task force. These regulatory changes person encouraged institutions to reconsider their engagement successful crypto.

Citadel Securities, 1 of the world’s largest market-making firms, has built its estimation successful stocks, options, bonds, and ETFs. However, it antecedently avoided crypto owed to concerns astir transparency and conflicts of interest, particularly aft the 2022 illness of FTX.

Instead, it partnered with Charles Schwab and Fidelity to motorboat EDX Markets successful 2023, a crypto speech designed exclusively for organization investors.

With clearer regulations, Citadel present wants to grow its relation successful crypto, providing liquidity arsenic it does successful different markets. The steadfast and different fiscal institutions person pushed for regulatory guidelines to let much organization information successful integer assets.

Unlike Citadel, firms similar Jane Street and Jump Crypto person been progressive successful crypto trading since 2017. However, they scaled backmost U.S. operations successful 2023 owed to regulatory crackdowns, focusing alternatively connected planetary markets similar Dubai, Singapore, and Hong Kong. Despite their reduced presence, they ne'er afloat exited the market.

Also Read: Trump: Committed to Making America the Crypto Capital