Don't let your hatred blind you, Apes, this deal is not a cry for help, it's a warning.
When you add more than a billion dollars’ worth of liquidity to a market maker that already executed more than one of every four trades in the U.S. markets on a daily basis, while simultaneously giving it bleeding-edge access to the fastest-growing asset class in modern financial history, that’s not a bailout. It’s a warning.
“Sounds like Citadel is falling apart,” wrote one user on the subreddit r/GME. “Those puts expiring this month is gonna f— them hard, hence the bailout.” Any talk of “bailouts” or liquidity crises inside Citadel are not based in reality, which is a real shame because the reality of this deal is so much more interesting and should be dominating every meme-stock discussion on social media.
Sequoia has invested in some companies you might have heard of — Apple AAPL, +1.68%, Google GOOGL, +0.77%, Instagram FB, +1.92% and LinkedIn MSFT, +0.23%, to name a handful — and its reach in the fintech space is borderline infinite. An alliance with Sequoia and Paradigm now is akin to how fellow market maker Virtu Financial VIRT, +2.08% received backing from private-equity titan Silver Lake Partners years ago, if way more forward thinking … and on steroids.It should, of course, be mentioned that Sequoia is also a key investor in Robinhood HOOD, +5.
Considering that Robinhood’s market cap is hovering around $14 billion, it might make sense. And that might not be an original idea, considering Robinhood closed up more than 5% on Tuesday, its best day in a while.
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