Wintermute Expands to New York, Betting on Trump's Crypto Regulatory Relief

Wintermute, a London-based algorithmic crypto trading firm, is expanding its reach by establishing a new office in New York. This strategic move marks a significant shift for the company, which has traditionally focused on Asian markets. The expansion is driven by the firm's optimism in the regulatory climate under the Trump administration, with CEO Evgeny Gaevoy expressing confidence in potential regulatory relief for crypto firms.

Gaevoy expects the new government to suspend certain regulatory fees against crypto protocols and securities, which he believes will position the US as a global leader in setting crypto regulations. Wintermute plans to expand its over-the-counter (OTC) offerings and derivatives services in the US market.

The New York headquarters will initially consist of a team of five to ten employees, focusing on business development and operations. However, Gaevoy has stated that there will be no trading roles available in the US for the time being.

Gaevoy also shared his thoughts on the emerging memecoin market, describing it as a "big drag on crypto." He explained that memecoins drain liquidity from other projects, citing the Trump token as an example. Despite these concerns, Gaevoy acknowledged that price declines in new tokens are a natural market cycle and not the result of platforms like Binance or Wintermute.

With its entry into New York, Wintermute is positioning itself for growth in the US OTC and derivatives market. The company's move reflects its confidence in the evolving regulatory environment, as crypto firms adapt to shifting policies and market forces.