Citadel Securities takes in $1.15B investment from Sequoia and Paradigm
Citadel Securities announced that VC firms Sequoia and Paradigm made a $1.15 billion combined minority investment in the market maker, bringing its valuation to $22 billion. The partnership with Paradigm, a Web3-focused investor, signaled Citadel Securities’ shift toward new asset classes such as crypto.
Sequoia, who led the round, with investment from Sequoia Heritage, Sequoia Capital Global Equities and the Global Growth Fund, will also get a seat on the Citadel Securities Board of Directors for Sequoia Partner Alfred Lin.
We are proud to announce that Sequoia and Paradigm have made a $1.15 billion minority investment in our firm. https://t.co/EIbWKduS1h
Related: Sequoia China leads $25M equity round for DeFi wallet DeBank
According to a statement, Citadel Securities will use the funds to further its growth of new products, markets and regions. Citadel Securities CEO Peng Zhao said:
Related: Ken Griffin says Bitcoin will be replaced by Ethereum-based currency
Historically, Ken Griffin has been as crypto skeptic, even claiming that crypto was “a jihadist call that we don’t believe in the dollar” only a few months ago. The arm of hedge fund Citadel is clearly embracing its expansion into cryptocurrency.
Read more on cointelegraph.com
