Citadel Securities, the market maker owned by Citadel's Ken Griffin, on Tuesday reported a 5.5% stake in cryptocurrency-focused lender Silvergate Capital Corp worth about $25 million, according to a regulatory filing.
A person walks by the Citadel Securities offices on Park Avenue in Manhattan, New York City, U.S., October 31, 2022. REUTERS/Andrew Kelly
Feb 14 - Citadel Securities, the market maker owned by Citadel's Ken Griffin, on Tuesday reported a 5.5% stake in cryptocurrency-focused lender Silvergate Capital CorpShares in Silvergate jumped after the disclosure, and were last up about 14%.The filing was a result of the firm's market making operations as opposed to a directional investment in Silvergate, according to a person familiar with the matter.
On Monday, Soros Fund Management disclosed a bet against Silvergate in a regulatory filing, which showed a put options position against 100,000 shares of Silvergate as of Dec 31. Based on Silvergate's closing price of $17.40 at the end of 2022, the value of those shares would be about $1.74 million.Details on the strike price of the puts, their value and whether they are part of a broader trade were not available.
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