Citadel Securities plans to become a liquidity provider for cryptocurrency platforms, a decision inspired by US President Donald Trump's support for digital assets.
Citadel Securities Enters the Crypto Market
Citadel Securities aims to provide liquidity services for leading crypto platforms, including Coinbase, Binance, and Crypto.com. Initially, the company plans to set up teams outside of the US.
Ken Griffin's Statements at the UBS Conference
Citadel Securities founder and CEO Ken Griffin stated at the UBS Financial Services Conference in Key Biscayne, Florida, that the Trump administration should develop regulatory guidelines to prevent fraud in the crypto space. 'We've seen time and time again in markets where your tier one players are allowed to participate are actually markets that clean themselves up,' Griffin said.
Criticism of the Biden Administration
Griffin also criticized the Joe Biden administration for its 'evil' approach to regulation through enforcement. He acknowledged that it was a mistake to avoid the crypto market earlier, noting that digital assets help Americans reclaim their agency after electing Trump.
The decision to make Citadel Securities a player in the crypto market comes as the digital asset sector sees increased activity under President Trump's administration, which seeks to overhaul rules to promote innovation and development.
