Wintermute Eyes U.S. Expansion Amid Strategic Growth Plans

Wintermute, a leading digital asset market maker, is preparing to expand its operations into the United States, signaling a major strategic shift as it seeks to strengthen its foothold in one of the world’s largest financial markets. The company has reportedly secured new funding from Chinese tech giant Tencent Holdings, further bolstering its growth plans.

New York Office and Hiring Plans Announced

Wintermute’s CEO, Evgeny Gaevoy, outlined the company’s expansion roadmap in a recent interview at the Consensus crypto conference in Hong Kong. He confirmed that Wintermute plans to establish a new office in New York as part of its U.S. expansion and increase its workforce to support regional operations.

“We had a successful year in 2024, and our strategic focus is now on expanding in the U.S. market,” Gaevoy stated. He added that Wintermute intends to introduce over-the-counter (OTC) crypto products tailored for the U.S. market.

The firm aims to hire five to ten new employees in operational and business roles to support these initiatives, growing its current 130-member team.

U.S. Policy Shifts Fuel Optimism for Crypto Firms

Gaevoy also expressed optimism about regulatory developments under the Trump administration, stating that anticipated policy changes could create a more favorable environment for crypto businesses.

“We believe the regulatory landscape in the U.S. is shifting in a positive direction. If the U.S. leads the way in crypto-friendly regulations, other countries will likely follow,” he noted.

This optimism follows Donald Trump’s pro-crypto stance, which has boosted confidence in the digital asset industry. During his campaign, Trump pledged support for the crypto sector, contrasting with the more restrictive policies of the Biden administration. Industry players anticipate fewer SEC lawsuits against exchanges, potentially paving the way for greater institutional adoption of digital assets.

Wintermute’s Role in the Memecoin Market and LIBRA Controversy

Beyond its expansion plans, Gaevoy addressed the rising influence of memecoins, commenting on recent events such as the LIBRA fiasco in Argentina and the Trump coin launch.

“Memecoins present a challenge to the industry—they’re essentially a zero-sum game,” he remarked, acknowledging Wintermute’s active participation in the sector despite its risks.

He also responded to allegations that Wintermute engaged in market manipulation, following accusations from crypto investigator Marty Party that Binance transferred millions in crypto to Wintermute to force market capitulation. Gaevoy dismissed these claims, emphasizing that Wintermute does not engage in long-term market manipulation strategies.

“We don’t take month-long positions like Trabucco did at Alameda. When we take positions, they’re small. Our strategy focuses on buying the dip or securing locked tokens at significant discounts,” he clarified.

The firm has maintained a diversified approach across centralized finance (CeFi), decentralized finance (DeFi), and OTC trading, holding large positions in high-market-cap memecoins such as Goatseus Maximum (GOAT) and Pepecoin (PEPE).

Strategic Funding and Global Liquidity Operations

Wintermute’s expansion plans are backed by recent funding secured in a round led by Tencent Holdings. The firm had previously raised $20 million in a 2021 Series B round, led by Lightspeed Ventures, with participation from crypto investment firms such as Hack VC and Pantera Capital.

In May 2024, Wintermute announced its role as a liquidity provider for Hong Kong’s spot Ethereum and Bitcoin exchange-traded funds (ETFs), reinforcing its global presence. Additionally, the firm has provided liquidity for two licensed digital asset platforms—OSL Digital Securities and HashKey HK Exchange.

Despite regulatory challenges faced by crypto exchanges in 2023, Wintermute reported a 400% surge in OTC trading volumes, underscoring its resilience and growing influence in global digital asset markets.

Wintermute Poised for Growth in U.S. Market

With new funding, regulatory optimism, and expansion plans underway, Wintermute is positioning itself as a key player in the U.S. crypto market. As the firm continues to scale, its focus on liquidity provision, OTC trading, and strategic investments will likely shape its role in the next phase of institutional crypto adoption.