- Wintermute expands to the US with a New York office, offering OTC and derivatives products.
- CEO Evgeny Gaevoy is optimistic about the Trump administration’s crypto-friendly regulations.
Wintermute, a leading algorithmic trading firm, is expanding its operations into the United States. The company plans to open a New York office and offer over-the-counter (OTC) products to U.S. clients and plans to hire an additional 5 to 10 employees for this expansion. This strategic move is inspired by a recent funding round led by Tencent Holdings and optimism about the evolving regulatory landscape under the Trump administration.
New York Expansion to Focus on OTC and Derivatives
“We are looking to expand in the US with our OTC offering,” stated Wintermute CEO Evgeny Gaevoy at the Consensus crypto conference in Hong Kong. “We are also looking to expand in the US with derivatives as well on the OTC side.” He added that the company plans to hire 5 to 10 new employees for its New York office.
Wintermute’s recent US expansion is another positive one for the company. Its aim is to capitalize on the growing demand for sophisticated crypto solutions, focusing on the OTC and derivative markets.
Gaevoy expressed confidence in the Trump administration’s approach to crypto regulation. “We are feeling optimistic about the regulatory changes currently underway in the U.S.,” he remarked.
He believes that the US is setting a precedent for other countries to follow in creating a more favorable environment for crypto businesses. Now that Trump’s administration has a strong priority to adopt cryptocurrency, it’s a strategic decision for Wintermute to establish its branch in New York.
This positive outlook on the US regulatory landscape is a key driver of Wintermute’s expansion plans. Especially when the majority of the U.S. states now consider cryptocurrency as a strategic reserve. The company sees a significant opportunity to provide its services to a wider range of US clients, including institutions and high-net-worth individuals.
Tencent Investment Fuels Growth Ambitions
Wintermute’s expansion plans are further bolstered by a recent investment from Tencent Holdings. Sources indicate that Tencent led a funding round that will support Wintermute’s growth initiatives, including its US expansion.
According to Bloomberg, the Singapore-based company has been in talks with investors, including Tencent to source for $300 million at a $2 billion valuation, excluding existing shares.
This strategic investment from Tencent highlights the growing interest of established players in the crypto industry. It also provides Wintermute with the financial resources to pursue its ambitious growth strategy.
With a favorable regulatory outlook, strong financial backing, and a focus on meeting the needs of sophisticated investors, Wintermute is poised to become a major player in the US crypto market.
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