ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal posted on LinkedIn that Coinbase has hired Ryan VanGrack to join its legal team as Vice President of Legal Litigation.According to reports, Ryan previously served as General Counsel at the globally renowned market maker Citadel Securities. Ryan has extensive experience in legal and regulatory affairs, including work at the U.S. Securities and Exchange Commission and the White House.

ChainCatcher news, U.S. market makers Citadel Securities and Jane Street Group LLC are expected to set record annual revenues. According to informed sources, Citadel Securities' net trading revenue in the first half of the year increased by 81% compared to the same period last year, reaching $4.9 billion; Jane Street grew by 78% to $8.4 billion, both significantly above the pace needed to set annual historical highs.

ChainCatcher news, according to CoinDesk, billionaire Ken Griffin's trading firm Citadel Securities denied Terraform Labs' claim that Citadel Securities was the mastermind behind the UST collapse last May, stating that Terraform Labs' actions were an attempt to divert attention from its accusations, forcing people to pursue absurd conspiracy theories, and that both the requested time frame is irrelevant and this theory is baseless.Previous report, on October 13, Terraform Labs submitted a motion to the court requesting market maker Citadel Securities to "provide certain data according to a third-party subpoena," stating that this is crucial for its defense in the lawsuit filed with the U.S. SEC.

ChainCatcher news, according to Blockworks, Terraform Labs has submitted a motion requesting that the market maker Citadel Securities provide certain data based on a third-party subpoena, arguing that this is crucial for its defense in the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against the company and its former CEO Do Kwon.The motion states that Terraform Labs issued subpoenas to Citadel Securities and Citadel Enterprise Americas for trading data related to the depegging in May 2022. Terraform points out that public evidence indicates that Ken Griffin, the head of Citadel entities, intended to short UST during or around the time of the depegging in May 2022.

ChainCatcher news, according to the official announcement, the U.S. Securities and Exchange Commission (SEC) has reached a settlement with the market maker giant Citadel Securities. The SEC accused Citadel Securities of violating order marking requirements for short selling regulations. Citadel Securities has agreed to pay a fine of $7 million.

ChainCatcher news, Bloomberg reports that EDX Markets, a cryptocurrency trading platform supported by Citadel Securities, Fidelity Investments, and Charles Schwab, is collaborating with Anchorage Digital for custody services. It is reported that the U.S. cryptocurrency custodian Anchorage Digital is headquartered in San Francisco and holds a banking license issued by the Office of the Comptroller of the Currency (OCC).EDX Markets CEO Jamil Nazarali stated that this collaboration will enable the platform to settle trades matched on its trading platform through its own clearing operations, which are planned to launch next month.

ChainCatcher news, according to The Wall Street Journal, a new cryptocurrency trading platform EDX Markets, backed by Citadel Securities, Fidelity Investments, and Charles Schwab, has begun executing trades in recent weeks and is expected to announce its launch later on Tuesday local time.EDX Markets is a non-custodial exchange that does not directly handle customers' digital assets or serve individual investors directly. EDX Markets states that it will offer trading in four cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash (these assets are not classified as securities by the U.S. Securities and Exchange Commission).According to ChainCatcher previous report, fund giants Charles Schwab, Citadel Securities, Fidelity Digital Asset, Paradigm, Sequoia Capital, and Virtu Financial announced the joint launch of the cryptocurrency trading platform EDX Markets (EDXM). (source link)

ChainCatcher news, according to Bloomberg, market maker Citadel Securities has accused former employees Leonard Lancia and Alex Casimo of stealing trade secrets while establishing the new crypto market maker Portofino Technologies and securing funding. Citadel Securities is seeking a trial to determine the extent of monetary damages and potential compensation. In response, Portofino denies these allegations.Previous report, Portofino Technologies was founded in April 2021 and is developing high-frequency trading technology for digital assets, having completed billions of dollars in trades across CEX, DEX, and over-the-counter markets. (Bloomberg)

ChainCatcher news, after the market maker giant Citadel Securities reported holding a 5.5% stake in the crypto-friendly bank Silvergate Capital, the stock price of Silvergate Capital surged. Citadel holds 1.7 million shares of Silvergate Capital, valued at over $25 million based on Monday's closing price. Previously, State Street Bank increased its stake in Silvergate to 9.3%.It is reported that since the collapse of FTX, the bank has faced increasing scrutiny over the past few months. Due to the industry's "crisis of trust," Silvergate reported a net loss of over $1 billion in the fourth quarter. (The Block)

Chain Catcher news, financial giants Charles Schwab, Citadel Securities, Fidelity Digital Asset, Paradigm, Sequoia Capital, and Virtu Financial plan to launch the cryptocurrency exchange EDX Markets. The exchange aims to enable a high-liquidity cryptocurrency ecosystem to aggregate liquidity from multiple market makers to reduce spreads and enhance transparency.It is reported that EDX Markets will be led by CEO Jamil Nazarali, CTO Tony Acuña-Rohter, and General Counsel David Forman. (Source link)