Wintermute’s U.S. Expansion: A Crypto Cold Front?

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What to know:

  • Wintermute, the crypto market maker that’s not exactly a household name, is setting up shop in New York. 🗽
  • They’re bringing over-the-counter (OTC) trading products and a whole lot of optimism about Trump’s regulatory changes. 🤷‍♂️

Wintermute, the crypto liquidity provider that’s been making waves in the crypto world, is finally making its way to the U.S. with a new office in New York and some fancy OTC trading products. 🎉

CEO Evgeny Gaevoy, who I’m sure has a very strong opinion on everything, told Bloomberg at Consensus Hong Kong 2025 that they’re “super excited” about this move. 🙌

“We’re looking to expand in the U.S. with our OTC offering, and we’re also looking to expand in the U.S. with derivatives offering on the OTC side,” Gaevoy said, probably while sipping a latte. ☕

Wintermute, which already has offices in London and Singapore and employs over 100 people, is riding the wave of optimism about potential regulatory changes under President Donald Trump. 🦸‍♂️

They’re not the only ones getting in on the action. Other crypto firms like Blockchain.com, Circle, Kraken, Gemini, Ripple, and BitGo are also considering U.S. expansion or public share sales. Bullish Global, the parent of CoinDesk, is even thinking about an IPO. 🚀

The New York office is set to open later this year, with an initial team of 5 to 10 employees. Gaevoy made it clear that they won’t be conducting trading activities out of the new office, probably to avoid any regulatory headaches. 🤕

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2025-02-19 17:54