The United Arab Emirates has accumulated approximately $344 million in unrealized bitcoin profit, excluding energy costs, according to new data from Arkham Intelligence. The holdings stem from mining operations linked to Abu Dhabi’s Royal Group. Arkham reported that UAE-linked wallets currently hold $453.6 million worth of bitcoin. The mining activities
Citadel Securities, the Nasdaq-listed market-maker, is preparing to double down on cryptocurrency trading in 2025, driven by new regulatory clarity from the U.S. Securities and Exchange Commission (SEC). President Jim Esposito outlined the push during a June 4 conference call, stating that “crypto has passed the point of no return,” and
Kenneth C. Griffin, the CEO of US-based hedge fund company Citadel LLC, has slammed the struggling cryptocurrency exchange FTX and its founder Sam Bankman-Fried. During a recent interview at the Bloomberg New Economy Forum, Citadel CEO termed FTX’s collapse as one of the biggest “travesties,” in the history of the
Over the next several months, Griffin intends to include crypto assets. The billionaire investor said ETH would ultimately replace Bitcoin. It’s expected that Citadel, a prominent American hedge fund and financial services provider, would begin operating in the cryptocurrency market in 2022. According to Ken Griffin, founder of Citadel, markets
