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Citadel Considers Crypto Trading

It looks like Citadel, an American hedge fund and financial services company, is going to start trading in cryptocurrency this year.

Citadel Considers Crypto Trading iBase Trading.
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It looks like Citadel, an American hedge fund and financial services company, is going to start trading in cryptocurrency this year.

Its founder, Ken Griffin, has changed his mind about crypto. This year, he wants his company to start giving its clients digital assets.

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Ken Griffin, the founder of Citadel, talked about the current state of the markets on Bloomberg Wealth with David Rubenstein. He said that the markets are at a very volatile point because of recent geopolitical conflicts.

After talking about digital assets, Griffin revealed that the company would be getting into the crypto asset markets this year. Griffin had previously warned the younger generation to stay away from them and say there’s no need for cryptocurrencies. It’s safe to say that in the months to come, you will see us making trades in cryptocurrencies.

Citadel and Bitcoin has Many of the Same Features

As of November 2017, Griffin said: Bitcoin right now has many of the same things as tulip bulb fever that we saw in Holland hundreds of years ago. It’s a big change from then. At the time, when the price of Bitcoin was around $10,000, he said that these bubbles usually burst.

On Bloomberg Wealth, Griffin said that he was wrong to be in the naysayer camp when it came to digital assets. For 15 years, crypto has been one of the best stories in finance. But the crypto market today has a market value of about $2 trillion in round numbers, which means that he has not been right on this call about the crypto market.

He said that he was still not sure, but there are a lot of people in this world who do not think that way. In order for us to help institutions and investors solve their portfolio allocation problems, we have to seriously think about becoming a market maker in crypto. This is because he wants to help them.

New Ideas Excite Most People, Crypto Worries Others

Citadel looks at the world’s markets and uses a variety of strategies to make money for its investors. This is what Griffin wants to happen over the next few months. Griffin wants the company to start including crypto assets in these strategies.

Sequoia Capital and Paradigm, two well-known crypto venture capital firms, invested $1.15 billion in Citadel Securities in January, making it the first outside investment the company has ever made. It was worth $22 billion after the investments. Citadel has about $38 billion in assets under its management at the moment.

A lot of people are excited about new ideas, but Griffin was worried some of this enthusiasm might be misdirected when it comes to cryptocurrency.

The billionaire investor did go on to talk about the benefits of Ethereum, though. He said that in the future, Ethereum-based assets will replace Bitcoin, which has a bigger environmental footprint.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

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Jane De Leon is a news writer covering all things related to DeFi and NFTs. In the past, she has worked for a well-known Business Newspaper. She originally began investing in Bitcoin after hearing about it from her brother and hasn’t looked back since.