Crypto Trading Firm Targets US Market
London-based algorithmic crypto trading firm Wintermute is entering the US market, establishing a new office in New York. The expansion is a strategic shift for the firm, which had focused primarily on Asian markets.
On Feb. 19, CEO Evgeny Gaevoy announced the moves, citing optimism in the regulatory climate under Trump. “Now we have a new focus on the US,” Gaevoy told Bloomberg, highlighting potential regulatory relief for crypto firms.
Pro-Crypto Policies Under Trump
Gaevoy expects the new government to suspend a number of regulatory fees against crypto protocols and securities. He believes this adjustment would position the US as a world leader in setting crypto regulations.
“We are looking to expand in the US with our OTC offering, we are looking to expand in the US with derivatives as well on the OTC side,” Gaevoy said.
New York Office and Hiring Plans
Wintermute’s New York headquarters will start with a team of five to ten employees, focusing on business development and operations. Gaevoy did state, however, that there will be no trading roles available in the US for the time being.
Memecoins’ Impact on Crypto Liquidity
Gaevoy also weighed in on the emerging memecoin market, calling it a “big drag on crypto.” He explained that memecoins drain liquidity from other projects, citing the Trump token as an example.
“When Trump token launched, it reached a decent market cap but triggered a massive sell-off on other memecoins on Solana,” he said.
Despite liquidity shift worries, Gaevoy explained price declines in new tokens are a natural market cycle and not the result of platforms like Binance or Wintermute.
Looking Ahead
With its foray into New York, Wintermute is positioning itself for expansion in the US OTC and derivatives market. The move by the company reflects confidence in the evolving regulatory environment, as crypto firms adapt to shifting policies and market forces.
