Citadel eyes crypto market-making as Ken Griffin softens stance on Bitcoin

Billionaire investor and entrepreneur Ken Griffin said his company is considering entering the crypto market, citing renewed confidence under Donald Trump’s presidency.

Griffin, the founder and CEO of Citadel LLC, hinted at offering crypto market-making services and digital asset trading after previously expressing doubts about the industry. The Citadel founder said the company, the largest market maker on the New York Stock Exchange, would be interested in providing liquidity on platforms like Coinbase, according to Bloomberg.

Like many technology-focused founders, Griffin called for clearer crypto regulations under the Trump administration while speaking at the 2025 UBS Finance Services Conference in Florida.

At the same time, he criticized the “evil regulation by enforcement” approach taken by the Biden administration and officials such as Gary Gensler, former chair of the U.S. Securities and Exchange Commission.

Citadel has historically avoided the crypto market, citing regulatory uncertainty. Griffin himself was a strong Bitcoin (BTC) skeptic in the past and questioned crypto’s overall utility. However, both he and Citadel have gradually shifted their stance since at least 2022. Shortly before Terra’s $60 billion ecosystem collapse, Griffin suggested the firm would unveil crypto operations within the year.

While that plan ultimately fell through, Griffin’s stance on crypto evolved over time. When Bitcoin surged past $100,000 for the first time last December, he admitted regretting not entering the market sooner.

However, time has not completely convinced Griffin of crypto’s merits. “What problem does it solve?” he said at the time, while still acknowledging the possibility of Citadel servicing crypto liquidity needs.