Ken Griffin's Citadel Securities to Enter Crypto Trading on Coinbase, Binance, Crypto.com Amid Trump's Pro-Crypto Stance

Citadel Securities, led by Ken Griffin, is preparing to enter the cryptocurrency trading market as a liquidity provider. The firm aims to join the market maker roster of several major exchanges including Coinbase, Binance, and Crypto.com. This move comes as a response to President Donald Trump's pro-crypto stance, which Citadel believes will fuel a boom in the asset class.

Previously cautious due to regulatory concerns, Citadel Securities, which manages between $62 billion and $65 billion in assets under management (AUM), has now shifted its strategy to capitalize on the growing cryptocurrency market. The firm, responsible for 35% of hedge fund stock trading, handles $455 billion in trades daily, accounting for nearly 25% of all US equity trading volume, with an annual trading volume of over $100 trillion. Citadel's entry into crypto trading is expected to significantly increase liquidity in the sector, which has a global market cap of $3 trillion.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.