Wintermute, a leading algorithmic trading firm and market-maker, is setting its sights on expanding its services into the U.S. market. The company, with its main office in London and a recently opened office in Singapore, is now planning to open an office in New York.
CEO Evgeny Gaevoy announced the company’s plans at the Consensus crypto conference in Hong Kong, stating that Wintermute is focusing on extending its reach with a new emphasis on the U.S. market. The firm aims to offer over-the-counter products to U.S. customers as part of its expansion strategy and is looking to hire five to ten additional employees to join its current team of 130 members.
Recent reports suggest that Wintermute secured funding in a round led by Chinese tech giant Tencent Holdings. While neither Wintermute nor Tencent representatives have commented on the news, it was previously reported that the market-making firm was seeking to raise around $300 million through Tencent’s funding round.
Gaevoy expressed optimism about the regulatory changes taking place in the U.S. under the Trump administration. He believes that other countries will likely follow the U.S.’s lead in developing more crypto-friendly regulations.
U.S. lawmakers have been actively engaged in shaping crypto regulations at both the national and state levels. The appointed crypto czar, David Sacks, outlined Trump’s vision to advance the crypto industry in the U.S. during a recent media conference. Sacks highlighted the potential of stablecoins to strengthen the U.S. dollar and emphasized the importance of exploring the feasibility of a strategic Bitcoin reserve.
Nearly 24 U.S. states have reportedly begun exploring legislation to establish strategic Bitcoin reserves, including states like Alabama, Arizona, Florida, Iowa, Pennsylvania, Wyoming, and Utah. These developments indicate a growing interest and commitment to embracing cryptocurrencies and blockchain technology within the U.S. regulatory landscape.