Citadel Securities Founder envisions entering the crypto market

Citadel Securities Founder envisions entering the crypto market
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PEOPLE

Citadel Securities Founder envisions entering the crypto market

Citadel Securities Founder Kenneth Griffin disclosed his intention in the cryptocurrency market.

05/03/2022

Citadel Securities Founder envisions entering the crypto market

Founder of Citadel Securities, billionaire Kenneth Griffin, is open for the possibility to let his company enter in the crypto market. 

By doing so, Griffin visualizes the company venturing into the market as a liquidity provider and a digital currency exchange. He announced his intention in cryptocurrency space at the Milken Institute Global Conference in Los Angeles, Reuters reported. 

Billionaire Griffin to venture into crypto space

“Given the institutional increase in interest in cryptocurrency, I think it’s reasonable to expect to see us be more involved in the crypto space providing liquidity to institutional and potentially retail investors,” Griffin pointed out. 

As a founder of one of the world’s largest market-making firms, Griffin names himself as abstract art collector.

Griffin even questioned: “Why is a painting worth $10 million? “It’s oil on canvas. So, value is in the eyes of the beholder,” he answered. 

Cryptocurrency and abstract art [which may include NFT arts] could lead to the company’s aim to provide liquidity in the market. Besides, Griffin has acknowledged the importance of digital currency exchange. 

Griffin admitted that he is still a bit skeptical about cryptocurrencies. Yet, based on his observation, he needs to be realistic since numerous people think of bitcoin and other virtual currencies as worthy assets. 

On the other hand, several market makers have provided market liquidity by showing buy and sell quotes. Virtu Financial, Jump Trading and DRW are among the market makers that accept digital currencies as growing asset class. 

By Marielle Petere Wozinga Staff

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