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CeFi has a new player: Citadel is aiming for crypto trading
By Davide Grammatica
Citadel Securities is apparently planning to dive headfirst into the crypto world, challenging its competitors with the support of Trump
A new arrival in CeFi
The financial giant Citadel Securities, one of the world’s largest market makers, is reportedly considering becoming a major player in the world of cryptocurrencies. According to Bloomberg, Citadel could exploit Trump’s support to gain an immediate advantage over its direct competitors in the cryptocurrency sector.
Until now, the company has only been tangentially involved in the crypto sector, avoiding direct contact with CeFi players due to unclear regulations. Now, however, the wind in the US seems to have changed, and Citadel is said to be ready to approach the various Coinbase, Binance or Bitget.
The plan would be to aim for the global market right from the start, and for this reason the company has already entered into partnerships with companies such as Charles Schwab and Fidelity, aimed at launching EDX Markets, an exchange for institutional crypto trading.
Retail investors remain excluded for now, likely due to concerns that are still intact after the FTX scandal and what it has entailed, such as doubts regarding conflicts of interest and fund manipulation.
Citadel: cryptos in their sights
Citadel aims to provide liquidity and trade digital assets exactly as it does for any other financial product, and to do so is just waiting for the moment when a new regulatory framework will finally be approved in the US.
They are therefore awaiting the future moves of Trump, on which the decisions of the entire financial sector as a whole depend. In general, however, the best conditions for the growth of the crypto industry should be created.
After Jane Street and Jump Crypto, another global trading giant, active in the stock, bond and ETF markets, is ready to participate in the growth of the crypto world.
