Wintermute

 

Wintermute is a global proprietary algorithmic trading company and one of the main providers of liquidity, established in 2017 by Evgeny Gaevoy in the crypto market. It operates as a proprietary trading firm applying HFT algorithms and models to sustain liquidity on hundreds of tokens. All trading activities are executed exclusively through the firm’s proprietary funds.

 

In addition to exchange market-making activities, Wintermute also participates in institutional trading and development of Web3 products. Wintermute OTC manages over-the-counter execution of spot trading, options, forwards, and contracts for differences through an RFQ platform and FIX APIs designed for fast execution. Wintermute Ventures assists in financing, strategic protocol advice, and provision of liquidity for early-stage blockchain projects and emerging Web3 and DeFi ecosystems.

 

Wintermute Details:

 

Attribute	Details
Company Type	Algorithmic trading firm, crypto market maker, liquidity provider
Global Presence	UK, USA, Singapore, and global remote trading infrastructure
Wintermute OTC	Offers institutional-grade Over-The-Counter trading for spot, options, forwards, and CFDs via RFQ and FIX APIs
Wintermute Ventures	Investment arm providing early-stage equity/token capital and programmatic liquidity to Web3 and DeFi projects
Regulatory Status	Registered with the UK Financial Conduct Authority (FCA) for certain crypto-asset activities; maintains global compliance standards

 

Wintermute Key Features:

 

• Uses advanced algorithms to execute deals on both centralized and decentralized exchanges efficiently.
• Maintains purchase and sell quotes for various digital assets, hence ensuring liquidity.
• Limit orders and configurable parameters are available to help traders execute deals more successfully.
• Wintermute NODE is an institutional-grade trading platform and API designed for professional traders.
• Handles large-volume OTC (Over-the-Counter) trading for over 250 digital assets.
• Wintermute Ventures invests in early-stage Web3, DeFi, and blockchain projects, supplying both capital and liquidity support.

 

Wintermute Milestones:

 

Year	Key Achievements
2017	Wintermute was founded in July by Evgeny Gaevoy (former Head of ETF Market Making at Optiver), together with Yoann Turpin and Valentine Samko. The aim was simple: build a high-performance algorithmic market maker focused on digital assets with strong technical depth.
2020	Wintermute received $2.8 million in funding in its Series A round that was co-led by Lightspeed Venture Partners. At this point, it started operating in the nascent DeFi space and became one of the first institutional market makers in the industry.
2021	$20 million Series B funding round took place with Lightspeed as the lead, along with Pantera Capital and other firms. The bull run brought rapid expansion and a fast-growing team because of the increased trading volume.

 

Wintermute Core Products & Services:

 

• Wintermute OTC Trading - Institutional OTC trading desk with deep liquidity and low market impact for spot trading, derivatives, options, forwards, CFDs, and bespoke structured products.
• Wintermute NODE - Institutional-grade OTC electronic trading platform that offers access to OTC markets via FIX/REST API and web interface, 24/7 trading capabilities.
• Wintermute Ventures - Investment vehicle of Wintermute that invests in Web3 startups in their early stages and assists them with tokenomics, governance, treasury, and liquidity advice.