Citadel Securities, managing assets worth $65 billion, is showing interest in entering the cryptocurrency market.
Citadel Securities and the Crypto Market
The firm is considering becoming a market maker for some major cryptocurrency exchanges like Coinbase. It plans to start activities outside the US while observing regulatory developments in the country.
James Lavish's Opinion
Former hedge fund manager James Lavish highlighted the importance of this development, advising market participants not to be distracted by noise but to focus on its significance.
Ken Griffin's Shift in Crypto Perspective
Ken Griffin, CEO of Citadel, was previously skeptical of Bitcoin, likening it to 'tulip bulb mania' in 2017. However, in 2022, he admitted he was wrong about cryptocurrencies and acknowledged their significance.
Citadel Securities' entry into the cryptocurrency market could be a significant step in industry development, attracting attention from other major financial institutions.
