Citadel Securities Hires Croft for Digital Assets
The electronic market maker added a former Wintermute and Genesis executive to lead crypto business development from London.
Updated on Nov. 5, 2026 in Financial Services
Citadel Securities hired Willis Croft as head of business development for digital assets, joining from Wintermute and bringing prior experience from Genesis. The move follows the firm's expanding crypto liquidity offerings, including liquidity provision to Kraken.
Why it matters
The hire signals continued expansion by a major electronic market maker into digital asset trading and liquidity provision. It comes as the firm has moved from planned liquidity arrangements with Coinbase and Binance to active crypto market involvement.
Citadel Securities invested $200m in Kraken in November 2025, and the extraction provides no comparator for that figure. The firm's crypto plans beyond the Kraken arrangement remain unspecified, and it did not respond to a request for comment.
The players
Citadel Securities
Citadel Securities is an electronic market making firm that has expanded into crypto liquidity provision, including arrangements with Kraken.
Ken Griffin
Ken Griffin is the founder of Citadel and has publicly criticized cryptocurrency, once calling it a "jihadist's call" against the dollar five years ago.
The details
Willis Croft joined Citadel Securities in October 2026 from Wintermute, where he was a director in business development and partnerships, and previously served as a VP at Genesis until it shut down in 2023. He is based in London, and Citadel Securities job listings include a systematic crypto trader role.
Timeline
2023: Genesis shuts down, ending Croft's tenure there as a VP.
Start of 2025: Citadel Securities plans to become a liquidity provider to Coinbase and Binance.
November 2025: Citadel Securities invests $200m in Kraken.
October 2026: Willis Croft joins Citadel Securities.
Market Landscape
The move extends Citadel Securities' push into crypto liquidity that began with planned arrangements with Coinbase and Binance at the start of 2025. It places the firm among electronic market makers competing to supply liquidity to digital asset exchanges.
For customers of crypto exchanges such as Kraken, deeper liquidity from major market makers can affect trading conditions. The extraction does not indicate any direct change to fees, product availability, or account terms.
The takeaway
Institutional market makers are building crypto trading teams and partnerships, so exchange users may see liquidity conditions shift as these firms expand. Watch for how Citadel Securities' digital asset strategy develops beyond its Kraken investment.
Further reading
For broader context on firms moving into crypto markets, see Financial Services.
