Home Crypto Chief of $35,000,000,000 Hedge Fund Firm Says Regulation Keeping Him Out of...

Chief of $35,000,000,000 Hedge Fund Firm Says Regulation Keeping Him Out of Crypto

Founder and CEO of world market maker Citadel Securities Ken Griffin says his agency would take part within the cryptocurrency markets if it weren’t for regulatory uncertainty.

In an interview with Bloomberg, Griffin says Citadel has stayed out of buying and selling crypto as a result of dangers related to working inside an unregulated trade.

“We don’t commerce crypto as a result of of the regulatory uncertainty.”

Griffin says Citadel’s popularity as a conventional market maker would place it better off within the crypto markets if it weren’t for the “regulatory void” that exists throughout the crypto house.

“I’d commerce it as a result of it could meet the wants of our on-line brokerage companions who wish to have a tier-one agency making costs… We present a terrific service on daily basis and each minute of on daily basis and so they need us to supply pricing in crypto.

I simply don’t wish to tackle the regulatory danger on this regulatory void that some of my contemporaries are keen to tackle.”

The Citadel Securities CEO says that he agrees with the efforts of U.S. Securities and Exchange Commission (SEC) head Gary Gensler to manage cryptocurrencies.

According to Griffin, laws will rework the cryptocurrency market right into a smaller however extra aggressive house.

“I actually imagine that Chairperson Gensler is spot on, on the necessity to have considerate regulation round cryptocurrency. I really suppose that doing so will make it a smaller market as a result of it’s going to develop into a much more aggressive market when there’s regulatory readability.

And that will likely be good. A smaller market, much less individuals concerned who’re frankly simply making an attempt to make a fast buck. And regardless of the virtues are of that product, and I feel these are fairly nebulous, will develop into very completely different in a world of aggressive exchanges and aggressive pricing by tier-one market makers keen to place their greatest foot ahead.”

I

Don’t Miss a Beat – Subscribe to get crypto e mail alerts delivered on to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl usually are not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any loses you might incur are your duty. The Daily Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Daily Hodl an funding advisor. Please observe that The Daily Hodl participates in internet affiliate marketing.

Featured Image: Shutterstock/Tionico Adam Refly/Vladimir Sazonov

RELATED ARTICLES
- Advertisment -

Most Popular