[mmiyer]

You should be happy that market makers like Citadel Securities exist. Payment for order flow is why commission free trading can exist. Citadel Securities, Virtu, Hudson River Trading, Jump Trading etc compete in a negative sum game which reduces the bid ask spread on various assets (i.e. make them cheaper to trade for everyone).

Also lol that a hedge fund with about 1% of total hedge fund assets controls prices. What do you think the other hedge funds and trading firms are doing?

[glockjock]

Actually, this could all be done with a blockchain bid and ask trading system that would match all bids and asks and execute without Yass and Griffin and Mercer. If Susquehanna and Citadel and Renaissance want to do it then every transaction should be taxed on a scale and the money used to pay down the national debt, or into next gen energy infrastructure. These guys are buying yachts, Lamborghinis, and elections.

[immibis]

Presumably (s/he thinks) the other hedge funds are not also market makers.