"Wintermute Expands to U.S. Amid Favorable Crypto Regulations"

Wintermute, a leading market maker in digital assets, is planning to establish a foothold in the U.S. with a new office in New York City, the global business hub. The firm has already opened offices in London and Singapore. Speaking at the Consensus 2025 event on Feb. 19, Wintermute's CEO, Evgeny Gaevoy, revealed that the anticipated favorable crypto regulations under the Trump administration are a key driver behind the planned move.

The newly established administration could lead to the dismissal of numerous charges against crypto protocols, according to Gaevoy. He also anticipated that the U.S. could become a global leader in cryptocurrency regulation, influencing other jurisdictions' policies. Wintermute's U.S. expansion will initially concentrate on over-the-counter (OTC) offerings, including derivatives. The company aims for an office setup in New York this year, with a team of five to ten, focused mainly on business development and operations. Gaevoy confirmed that Wintermute has no immediate plans for trading activities in the U.S.

Gaevoy also discussed the meme coin phenomenon, describing it as a "big drag on crypto." He argued that meme tokens divert liquidity from established projects, citing the Trump meme coin as an example. The launch of new tokens often leads to a "massive sell-off" of existing meme coins, challenging the cryptocurrency market as a whole. However, Gaevoy added that price declines in new tokens are a normal market cycle and not influenced by firms like Wintermute.

The firm recently came under scrutiny following a crypto market crash on Feb. 3, which led to massive liquidations across cryptocurrencies. A number of crypto traders and investors blamed Wintermute, as well as others, for the crashes. Accusations arose that Wintermute, as a market maker, might have been involved in activities that exacerbated the market decline, potentially to profit from liquidations. In response, Gaevoy stated that crypto market crashes were caused by events outside the crypto sector, such as U.S. policy changes, rather than internal market manipulation.

Increasing regulatory pressures have prompted the company to shift its focus to Asian markets for a while now. Countries like Hong Kong, Singapore, and Dubai have introduced pro-crypto legislation, creating a more welcoming environment for crypto businesses. Now, with Trump's return to power, the