Story perspectives

Citadel Securities Ventures into Crypto Market-Making, Eyes Growth

2/26/2025

43 5

Summary

Story summary

Citadel Securities aims to enter the crypto market-making space, focusing on non-U.S. exchanges like Coinbase and Binance, pending regulatory approval.
This move signifies a shift in the crypto landscape, influenced by evolving regulations under the Trump administration.
Citadel's participation could improve liquidity and transparency but may disadvantage retail investors and smaller market makers.
The firm co-founded EDX Markets, an institutional-only crypto exchange, marking a strategic shift towards digital assets.

History

Historical Context

Citadel Securities' entry into crypto market-making echoes the 1999 repeal of Glass-Steagall, which blurred lines between banking and trading. This historical shift allowed firms to dominate markets, raising concerns about competition and transparency, much like today's worries over Citadel's influence in the evolving crypto landscape.

1 of 2

Story summary

Citadel Securities aims to enter the crypto market-making space, focusing on non-U.S. exchanges like Coinbase and Binance, pending regulatory approval.
This move signifies a shift in the crypto landscape, influenced by evolving regulations under the Trump administration.
Citadel's participation could improve liquidity and transparency but may disadvantage retail investors and smaller market makers.
The firm co-founded EDX Markets, an institutional-only crypto exchange, marking a strategic shift towards digital assets.

1 / 2