Citadel Securities want to create market exchange markets – Report – Professor’s book visions

Securities Castle“The main claim of fame in trading cryptocurrency was as a co -founder EDX MarketsIt is an informed coded trading place, until recently, it supports bitcoin, ether and Litikoin. yesterday Bloomberg I mentioned that Citadel Securities wants to become a market for retail exchange exchanges such as Coinbase, Binance and Crypto.com. The report was from unveiled sources.

Initially, market making teams will be outside the United States, which may change depending on how regulations are evolved in the United States

Although it might have moved away from making the market to exchange retail, we believe that Citadel may already have some external activities. In 2022 File a lawsuit against a former employee Participate in encryption activities. The court documents mentioned the first systematic encryption trade in Asia in March of that year. It was in the same year that Terra Staplecoin collapsed, with Blockchain founder Allegedly These castles may have caused the fall.

The company’s interest in retail trade is not surprising. EDX market volumes for Kamel 2024 was $ 36 billion. This is equivalent to the size of the stain in one day on the exchange of banks, with the stock market derivatives three times this level.

Meanwhile, one of the well -known Citadel partners is Robinhood as it pays the company to flow requests that represent 12 % of transaction revenues in 2024.

Payment of demand flow is a significant revenue for all retail brokers. For example, in the first nine months of 2024, Charles Schwab got more than a billion dollars to flow, with approximately 70 % of options and balance from stocks.

Looking at the folders, it will not be surprising that the castle targeted both the spot and the derivatives for encryption. EDX Markets was already planning to launch permanent futures abroad.

EdX Markets expands the supported encryption assets

Citadel Securities participated in the establishment of EDX markets in 2022 with Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial.

Until recently, only three encrypted currencies – Bitcoin, Eter and Litecoin supported. These are the only three to be considered goods by the Supreme Education Council under former President Gary Ginsner. The trading of instant goods currently does not require CFTC registration. Next, EdX Memecoins Doga and Shib added.

With SEC withdraw from various investigations, including in RobinhoodEDX Markets expanded the range of coins by adding ten other code. They include three layer codes (Bitcoin Cash, Solana and XRP), two momenate, USDC Stablecoin, and some of the largest Protocols (AAVE, Compound, Chainlink, Uniswap).