Evgeny Gaevoy, CEO of Wintermute, shares his insights on the future of crypto trading, how Asian markets differ from those in the West, and how he predicts AI will be used in trading and market making. 💸🚀
Gaevoy, who will be speaking at Consensus Hong Kong, discusses how Asian crypto markets differ from those in the West, how he predicts AI will be used in trading and market making, and how Wintermute is responding to the growing fragmentation of liquidity across multiple blockchains. 🌏🔍
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Gaevoy began his career in traditional finance, specializing in market making and prop trading. But by 2016, seeing the inefficiencies of legacy financial systems and the potential for disintermediation, Gaevoy realized there was an opportunity to create something entirely new and better. 💼💡
Since 2017, Wintermute has since grown into one of the largest algorithmic trading and liquidity providers in crypto, processing over $5 billion in daily trading volume and providing deep liquidity to 50+ trading venues across centralized and decentralized exchanges. 📈💹
What led you to start Wintermute?
Gaevoy explains how he started looking into the blockchain around 2016 and how Wintermute came to be. He was interested in disintermediation and cutting out the inefficiencies of custodians and prime brokers. 🔗💸
You’ve been actively engaged in both Western and Asian markets — what are the biggest differences you’ve observed between the two?
Regulation-wise, everything is still primarily driven by the U.S. Gaevoy also discusses how certain countries are opening up to crypto in meaningful ways, such as Japan, South Korea, and Hong Kong. 🌏📈
What have been some of the lesser-known or unexpected catalysts driving crypto adoption and liquidity in Asia?
Gaevoy shares his surprise at how many of the narratives we see on Crypto Twitter and from VCs don’t reflect what’s actually happening on the ground. He mentions Tron and Tether as examples of projects that are doing really well in Asia but are often ignored in the Western echo chamber. 🌏🔍
Do you think AI will ever autonomously run an entire market-making operation?
Gaevoy discusses how AI is already widely used in trading and how it has been for quite some time. He explains that Wintermute falls somewhere in the middle when it comes to using AI in their operations. 🤖💸
How does Wintermute approach the challenge of liquidity becoming increasingly fragmented across different blockchains?
Gaevoy shares how Wintermute embraces the fragmentation and positions itself to be everywhere liquidity exists. He believes that crypto is inherently decentralized and will stay that way, with new blockchains, trading venues, and liquidity pools emerging all the time. 🌐💹
What are you most excited to discuss on stage at Consensus Hong Kong?
Gaevoy shares his excitement to discuss market structure and the role of market makers in crypto at Consensus Hong Kong. He hopes to dispel some of the myths and false narratives that are out there. 🎤💡
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2025-01-31 20:07