Kenneth Griffin, the founder and CEO of Citadel, hinted in a recent interview with Bloomberg that over the months to come, the company may consider joining the crypto industry as a market maker. Griffin said he is still skeptical about the market, but there are "hundreds and millions of people in this world today who disagree with that."
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"To the extent that we are trying to help institutions and investors solve their portfolio allocation problems, we have to give serious consideration to being a market maker in crypto."
Even though Griffin did not elaborate on when exactly the Chicago-based company may join the industry, he admitted that he personally was wrong about cryptocurrencies as digital assets have been "one of the great stories in finance over the course of the last 15 years."
"And I will be clear, I have been in the naysayer camp over that period of time. But the crypto market today has a market capitalization of about $2 trillion in round numbers, which tells you that I have not been right on this call."
In October 2021, Citadel Securities doubted that entering a cryptocurrency market is an appropriate decision given the risks associated with the regulatory framework. Griffin forecasted that the cryptocurrency market will become a "far more competitive" one with regulatory clarity. However, he declined to mention the timetable.
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