Citadel CEO sets conditions for launching cryptocurrency trading

The chief executive of the major market-maker Citadel, Ken Griffin, said that his firm will not support cryptocurrencies until they are properly regulated. Bloomberg reports.

The billionaire criticised the amount of time and energy spent on cryptocurrencies, and compared people’s disbelief in the dollar to a “jihadist call”.

At the same time, Griffin added that there is demand from the firm’s partners for access to such assets, and Citadel could well trade cryptocurrencies if regulators’ stance were clearer.

The CEO of Citadel also praised Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC), for his close attention to cryptocurrencies.

“I would like all this passion and energy invested in cryptocurrency to be directed toward strengthening the United States. What a crazy idea it is that we, as a country, attract so many bright, young, talented people to come up with a replacement for our reserve currency,” Griffin said.

The founder of the hedge fund Citadel and market-maker Citadel Securities has long been sceptical about crypto. In 2018 he questioned the value of cryptocurrencies, expressing regret that younger investors are drawn to digital coins rather than shares in companies that spur economic growth.

Earlier in 2021, Citadel was involved in a scandal involving Robinhood and GameStop. Ken Griffin testified before the U.S. Congress.

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