Tuesday, July 31, 2024 – Wintermute, the leading algorithmic trading firm, is in discussions with investors for a new funding round, a blog post said on July 19, 2024.
With the collapse of FTX in 2022, the trading firm Wintermute emerged as a leading market maker.
It is reported that Tencent, a Chinese multinational technology conglomerate, is among the investors.
It will deal with the valuation of about $2 billion.
The shares worth $100 million will be sold, allocating a fair amount of funds for current shareholders, according to the source.
New shares will be issued by Wintermute, though the exact quantity has not yet been learned.
Reports said the negotiations would be carried out as the specific details of the funding round had not been finalized.
Wintermute-affiliated crypto derivatives trading firm, Wintermute Asia, added spot and contract for difference (CFD) product access to the oneZero network.
In early March, Wintermute added CFDs to the firm’s OTC derivatives products, tapping into a remarkable milestone for the gradual growth of Wintermute trading volume.
Late May, Wintermute began providing liquidity to OSL Digital Securities and HashKey HK Exchange, two crypto platforms based in Hong Kong.
The expansion of Wintermute operations with market fall is notable, as a 400% upsurge was recorded in OTC trading volumes in 2023, according to reports.
