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Crypto Market Maker Wintermute Eyes U.S. Expansion: Bloomberg
The expansion is driven by optimism about potential regulatory changes under the Trump administration.
Feb 19, 2025, 2:47 p.m.
What to know:
- Wintermute, one of the largest market makers in crypto, plans to expand into the U.S. with a New York office and over-the-counter trading products.
- The expansion is driven by optimism about potential regulatory changes under the Trump administration.
Wintermute, one of the largest liquidity providers in the cryptocurrency market, is expanding into the U.S. with the opening of a new office in New York and the introduction of over-the-counter (OTC) trading products in the country.
Wintermute has plans for a “new added focus on the U.S.,” CEO Evgeny Gaevoy told Bloomberg during Consensus Hong Kong 2025.
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“We are looking to expand in the U.S. with our OTC offering, and we are looking to expand in the U.S. with derivatives offering as well on the OTC side,” Gaevoy said.
The company, which has offices in London and Singapore and employs more than 100 people, is being driven by optimism on potential regulatory changes in the U.S. under the administration of President Donald Trump.
It's not alone. Other crypto firms now considering U.S. expansion or shares sales to the public include Blockchain.com, Circle, Kraken, Gemini Ripple and BitGo. Bullish Global, the parent of CoinDesk, is also said to be considering an IPO.
The New York office is set to open later this year, with an initial team of between five and 10 employees. Gaevoy said Wintermute won’t be conducting trading activities out of the new office.
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- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
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