Ken Griffin, the founder of Citadel LLC, has expressed the company's intention to enter the cryptocurrency market with the backing of Donald Trump's administration.
Ken Griffin's Statement
Ken Griffin, CEO of Citadel LLC, announced the company's intention to offer market-making services and digital asset trading. Citadel, one of the largest market makers on the New York Stock Exchange, is exploring providing liquidity on platforms like Coinbase, according to Bloomberg.
Changing Stance on Crypto
Citadel historically avoided the crypto market due to regulatory uncertainty. Previously, Griffin was skeptical of Bitcoin and questioned crypto’s overall utility. However, both the company and Griffin have softened their stance since 2022, despite the $60 billion Terra ecosystem collapse.
Criticism of Regulation
At the 2025 UBS Finance Services Conference in Florida, Griffin criticized the Biden administration's regulation-by-enforcement approach, focusing on figures like former SEC chair Gary Gensler. Griffin emphasized the need for clearer crypto regulations with Trump's administration's support.
Citadel's potential involvement in the cryptocurrency market highlights shifting sentiments in the financial services industry amidst changing political and regulatory landscapes.
