Miami-based market-making powerhouse Citadel Securities is preparing to enter cryptocurrency trading in a strategic move influenced by former President Donald Trump’s pro-crypto stance.
The firm, run by billionaire Ken Griffin, is positioning itself as a liquidity provider for digital assets, signaling a significant shift from its historically cautious approach to the sector.
Citadel Securities has largely stayed out of the crypto industry, wary of regulatory uncertainty in the United States. Unlike other trading firms, it has avoided retail-heavy exchanges due to concerns about market surveillance and compliance. But with Trump vowing to make the U.S. the global “crypto capital,” the firm sees a potential opening for institutional players to gain a foothold.
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According to people familiar with the matter, Citadel Securities is actively seeking to join the roster of market makers on major crypto exchanges such as Coinbase, Binance, and Crypto.com. The firm is expected to initially establish market maker teams outside the US, with the level of involvement of these teams depending on the evolving regulatory environment.
Citadel Securities advocates for clearer regulations on digital assets and urges policymakers to provide a structured framework for institutional investors. The firm launched EDX Markets, an institutional-only crypto exchange developed in collaboration with brokerage giants Charles Schwab and Fidelity Investments, in 2023. Unlike retail-focused platforms, EDX operates similarly to traditional equity and fixed-income markets and caters exclusively to professional investors.
The Trump administration’s pro-crypto stance has paved the way for a potential industry revival in the U.S. Shortly after taking office, Trump issued an executive order on digital assets and appointed Hester Peirce, a noted crypto advocate, to lead a special SEC task force. These moves are seen as efforts to reverse restrictive policies implemented under the Biden administration that have curtailed crypto-related activity.
*This is not investment advice.
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