Wintermute, one of the leading digital asset market makers, has announced plans to expand its operations in the United States with the opening of a new office in New York.
This move signals a shift in the companyโs strategic focus, which has predominantly been geared toward Asian markets in recent years.
Reveals U.S. Expansion Plans
Wintermute CEO, a Russian entrepreneur, Evgeny Gaevoy disclosed the company’s U.S. expansion plans on February 19, speaking to Bloomberg about the firmโs ambition to tap into the growing American crypto market.
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Gaevoy explained that the company is betting on favorable regulatory changes in the U.S., particularly under the Trump administration’s more crypto-friendly policies.
โWe see the U.S. as a key focus for the future,โ Gaevoy said. “With the current regulatory environment, we expect favorable conditions for crypto protocols and a potential relaxation of legal challenges in the near term.”
According to Gaevoy, the companyโs U.S. office, which will launch with a small team of five to ten people, will primarily focus on business development and operations.ย
Wintermute does not plan to hire for trading positions in the U.S. office at this stage. The firm has instead opted to maintain its trading operations out of its London base.
Wintermute, which has established itself as an algorithmic trading powerhouse, has secured funding from a variety of investors, including Tencent, the Chinese tech giant.
Regulatory Shifts and the Impact on Crypto
Under the Trump administration, Wintermuteโs Gaevoy expects some regulatory charges against crypto firms to be reduced or dismissed, signaling a shift from the stricter approach seen in previous administrations.
This change could influence global crypto regulation, with the U.S. potentially setting a framework for other countries to follow.
As the U.S. continues to grapple with balancing investor protection and fostering innovation, Wintermuteโs U.S. expansion could mark a significant moment in the evolving regulatory landscape.
On the Flipside
- Wintermute is a controversially regarded market maker linked to accusations of market manipulation, which raises concerns about its practices and the potential for regulatory scrutiny.
Why This Matters
Wintermuteโs New York office marks a key step in its U.S. expansion, focusing on OTC and derivatives markets.
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