Citadel Securities founder Griffin likens crypto value to abstract art

NEW YORK : Ken Griffin, the billionaire founder of Citadel Securities, one of the world's biggest market-making firms, said on Monday he envisions the company entering the cryptocurrency market as a combination of a liquidity provider and an exchange.

While some market makers - firms that provide market liquidity by streaming buy and sell quotes for others to trade against - such as Virtu Financial, Jump Trading and DRW, have embraced the nascent asset class, Citadel Securities has largely stayed on the sidelines.But on Monday he said that while he is skeptical about cryptocurrencies, he has to live with the reality that an asset is worth what people perceive it is worth.

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