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Citadel Plans Crypto Market-Making Business: Bloomberg
The company had previously been wary, but the friendlier U.S. regulatory outlook has that stance.
What to know:
Market-making firm Citadel Securities is planning to wade deeper into the crypto world, according to a Monday report from Bloomberg.
The well-known trading company is looking to provide liquidity on major crypto exchanges including Coinbase, Binance and Crypto.com, the report said. It's setting up offshore teams to keep the new business line outside the U.S.
Citadel had previously been reluctant to bring its core service, market making, to crypto, despite its other industry ventures like the institutional trading platform EDX Markets.
The about-face is seen as a reaction to President Donald Trump's resetting of the U.S. regulatory stance on crypto.
Citadel did not immediately respond to a request for comment.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
