Citadel Securities announces its readiness to become a liquidity provider in the cryptocurrency market, encouraged by regulatory changes under Donald Trump's administration.
Citadel Securities and Cryptocurrency
Citadel Securities, known for its operations in stocks, options, and bonds, is now shifting focus to cryptocurrencies. Previously, the company avoided large cryptocurrency exchanges due to regulatory uncertainty. Instead, it partnered with Charles Schwab and Fidelity to launch EDX Markets in 2023, a crypto exchange exclusively for institutional investors.
The Role of Donald Trump in Regulatory Changes
President Donald Trump aims to position the U.S. as the 'crypto capital of the planet'. With the introduction of digital asset-friendly policies, including appointing Hester Peirce to head a task force, there are significant regulatory changes encouraging institutional interest in cryptocurrencies.
Market and Competition
Citadel Securities plans to partake in trading on platforms like Coinbase, Binance, and Crypto.com outside the U.S., depending on regulatory evolution. Unlike Citadel, firms such as Jane Street and Jump Crypto have been active in the crypto market since 2017. However, they have reduced U.S. operations in response to regulatory crackdowns in 2023, focusing on international markets.
With clearer regulations, Citadel Securities seeks to broaden its role in the crypto sector by providing liquidity similar to other markets.
