Citadel Securities Funded with $1.15B by Paradigm and Sequoia

Citadel Securities Funded with $1.15B by Paradigm and Sequoia

The leading global market maker Citadel Securities has acquired almost $1.2B, putting the firm at about $22 billion in total value.

Funding was led by a major venture capital firm Sequoia Capital, which previously invested in other FinTech companies, and Paradigm which is also a large investor that backs crypto-focused platforms.

Citadel Securities, not to be confused with Citadel which is its asset management branch, told PR Newswire that the funding will help the company expand into global markets, and, hopefully, the crypto industry.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

How to Avoid Rug Pulls in Crypto? (5 Ways Explained)

How to Avoid Rug Pulls in Crypto? (5 Ways Explained) How to Avoid Rug Pulls in Crypto? (5 Ways Explained)

The CEO of Citadel Securities Peng Zhao shared his thoughts on the funding led by two major venture capital firms:

"As technological innovation in financial markets becomes only more important, we see enormous opportunities to meet the needs of our clients across more markets and more products. Our partnership with Sequoia and Paradigm puts us in an even stronger position as we continue to scale our business, broaden into new markets and attract the world's most brilliant minds."

However, founder of Citadel LLC Ken Griffin has previously expressed his skepticism towards crypto, and refused to put digital asset support into his company. Therefore, there are no assurances whether the company will participate in the crypto market.

With that being said, in an earlier interview with NYT at the DealBook conference, he showed some interest in crypto, and said that Ethereum will replace Bitcoin due to potentially "higher transaction speeds and lower costs per transaction."

Dom Z. - Crypto Analyst

by Dom Z. - Crypto Analyst, BitDegree


Loading...