Citadel Securities, one of the largest decision-makers in the financial world, takes a daring step in the space of cryptocurrencies. Directed by Ken Griffin, the firm bets on the support of President Trump to stimulate a boom of digital assets and plans to become a key player in the market.
Citadel plans to join major cryptography exchanges
This marks a major change compared to the previous prudent approach of Citadel Securities to the crypto. The company was limited to cryptographic trading, avoiding popular exchanges with retail investors due to unclear regulations in the United States. It now aims to join major exchanges such as Coinbase, Binance and Crypto.com as a market manufacturer in accordance with a final report Bloomberg.
Once approved on exchanges, Citadel plans to establish market teams outside the United States. Until now, Citadel has avoided the main exchanges of crypto frequented by retail traders. The collapse of the FTX in 2022 raised concerns concerning conflicts of interest and the manipulation of funds due to a lack of separation between the custody, the market and the trade. The company has already teamed up with companies like Charles Schwab and Fidelity to launch Edx Markets, an exchange of trading in institutional cryptography.
Trump’s crypto pushes regulatory changes
Citadel Securities, as well as other financial companies, plead for clear regulations to guide institutional investments in digital assets. The company aims to provide liquidity and exchange digital assets as it does with traditional asset classes, once the United States has established a regulatory framework.
As part of the Trump administration, the financial sector is preparing for a more digital digital asset activity. Trump’s push to make the United States the “planet’s cryptographic capital” triggered efforts to revise the regulations, including a decree on digital assets and the launch of a cryptographic working group by the dry.
The citadel has become a global commerce giant, active in stock markets, bonds and ETF. However, unlike peers like Jane Street and Jump Crypto, Citadel avoided the creation of cryptography market. While companies like Jump and Jane Street have reduced their American cryptography activity in the midst of regulatory repression, they continued to exchange markets abroad.