Citadel Securities' latest $1.15 billion financial statements are worth paying for after raising money with cryptocurrency funds.

Citadel Securities on Tuesday received $1.15 billion in investments worth up to $22 billion.

Specifically, this is Citadel Securities' first outside investment led by venture capital firm Sequoia Capital and cryptocurrency investment firm Paradigm, with majority backing from Sequoia and Sequoia Capital partner Alfred. Lin joining Citadel Securities'. Board of directors.

Citadel Securities said the investment will help fund the company to continue globally and may announce an IPO.

Citadel industry is divided into two sections. One is the $43 billion Citadel hedge fund which brought in founder Ken Griffin a $21.3 billion valuation.

The other is Citadel Securities, established in 2022, which has grown into a huge global trading asset such as stocks, options, futures and contracts, including modern trading volume accounting for 27% of total trading volume stock market. The volume of trading in the US stock market, largely coming from trades made by online traders such as Robinhood Markets.

Robinhood-related trading firms have helped Citadel Securities identify well with cryptocurrency retailers, but the company is now looking for ways to weed out middle and full installers of cryptocurrency trading. Because the removal of Robinhood is a key issue for the success of Citadel Securities' IPO.

On January 28, 2021, several American companies, represented by Robin Hood, suddenly banned consumers from buying GameStop and other meme products, allowing them to only sell options, the incredible increase in meme stocks. .

For a while, Citadel Securities, which was affiliated with Robin Hood, was the center of public opinion. Although Citadel Securities refused to participate in the restrictions, SEC Chairman Gary Gensler came up with the idea of ​​restricting the PFOF (Pay-to-Flow of Order, Rebate for Execution of Trades). Exchange rates valued at over $ 1.1 billion for Citadel Securities judgment stream for the first nine months of 2021.

In fact, Citadel Securities had to wait for more investors to buy during the stock market rally before reaping higher returns.

Currently, the SEC is considering a ban on PFOF, and if PFOF is restricted to ensure companies' profitability, Citadel Securities will have to sever its relationship with Robinhood, so it will seek to move all of its cryptocurrency business home. This is also the reason for the increase in investment in the investment sector.

Sequoia Capital is one of the largest companies in the country with $80 billion in funding, Paradigm focuses on cryptocurrencies, and three (9.72, 0.03, 0.31%) b3. The investment between the two companies could lay the groundwork for Citadel Securities to enter the cryptocurrency market in the future.