The Billionaire CEO of the Financial Giant Citadel, Known as a Crypto Hater, Announced His Investment in This Altcoin!

Ken Griffin, founder and CEO of US hedge fund Citadel, announced that he has a 4.5% stake in Nasdaq-listed firm Solana-focused DeFi Development. According to Schedule 13G filed with the U.S. Securities and Exchange Commission (SEC), Griffin holds just over 1.3 million shares, representing approximately 4.5% of DeFi Development’s outstanding common shares. DeFi Development Corp. is Solana’s second-largest treasury company, while the company has been actively accumulating Solana (SOL) and currently holds over 2.19 million SOL. Ken Griffin and Citadel's involvement marks a notable development given his long-standing skepticism of cryptocurrencies and his company's traditional finance background. Additionally, Griffin’s 4.5% stake in SOL treasury firm DeFi Development adds another high-profile institutional name to Solana. While Citadel itself has not directly entered cryptocurrency trading, its stake in DeFi Development reflects its changing approach to cryptocurrencies. While Griffin's holdings are currently modest compared to Citadel's broader portfolio, they highlight a situation that once seemed unlikely for the company. While Griffith had previously claimed that cryptocurrencies were a “declaration of war” against the US dollar, his latest move appears to be slowly changing this approach. Experts noted that hedge funds and institutional capital are indirectly flowing into the cryptocurrency market through stakes in publicly traded companies related to DeFi, adding that “with Solana's network growth, interest in the capital markets will continue to grow.” *This is not investment advice. Continue Reading: The Billionaire CEO of the Financial Giant Citadel, Known as a Crypto Hater, Announced His Investment in This Altcoin!