Wintermute is a global algorithmic liquidity provider for digital assets that was launched in 2017 and is led by CEO Evgeny Gaevoy. The firm provided liquidity for several prominent projects in 2020 and plans to support more in 2021. It operates across venues in the US, Europe and Asia and is planning to open its first international office in Singapore in the first quarter of 2021. Wintermute is currently piloting an RFQ platform with beta counterparties and plans to launch that platform for institutional players within the first quarter of 2021. The company is also looking to scale its derivatives business. Wintermute closed a $20M Series B in January 2021. Wintermute is a next-generation, crypto-native market maker that builds a proprietary tech stack applying high-frequency trading and algorithmic market-making best practices to digital assets. The company connects liquidity pools across centralized and decentralized sources to provide spot and perpetuals liquidity and supports new products and listings. Since launching in 2017, Wintermute says it covers roughly 500 trading pairs across vetted crypto exchanges and trading platforms and has become one of the largest liquidity providers in spot and perpetuals markets. Management emphasizes a tech-first approach, positioning the firm as a technology company rather than a traditional financial services shop. Wintermute plans to use new capital to expand into derivatives, over-the-counter market making, and DeFi liquidity products to further improve market efficiency and professionalize crypto markets. The company presents itself as aiming to be the "invisible hand of the market," providing seamless liquidity for retail and institutional participants.

Total raised

$23M

Funding rounds

2

Latest round

Series B

Latest activity

Jan 2021