As a seasoned researcher with a focus on the crypto market and its key players, I’ve closely followed Wintermute’s journey since its founding in 2017. Their business model of providing algorithmic trading solutions and market-making services to various crypto exchanges has put them at the forefront of this dynamic industry.
As a researcher, I’ve come across reports indicating that algorithmic crypto trading firm Wintermute is allegedly engaging in negotiations with Chinese tech behemoth Tencent and other potential investors for a funding round that could potentially secure up to $300 million.
According to reliable sources speaking with Bloomberg, Wintermute – a prominent player in crypto’s high-frequency trading and market-making sector – is currently holding discussions with potential investors regarding a fresh funding round. The goal is to secure up to $300 million through this process, which would also involve selling additional existing shares.
As a researcher, I’ve come across some intriguing news. According to the information available to me, a London-based tech company, which I should note is led by Evgeny Gaevoy, is reportedly in discussion with Tencent, a renowned Chinese multinational conglomerate, and other prospective investors. The potential investment could value this firm at approximately $2 billion.
Based on unnamed sources, Wintermute’s initial investors could offload some of their shares, increasing the deal’s value to an estimated $300 million. Previously reported was Wintermute’s goal to raise $100 million in funding. At present, Wintermute has kept quiet about this possible development.
The upcoming financing is anticipated to be secured following Wintermute’s $20 million Series B investment in January 2021, spearheaded by Lightspeed Ventures, as well as involving contributions from Pantera Capital and Hack VC.
Established in 2017, Wintermute functions as a crypto trading firm offering liquidity services to exchanges like Binance, Coinbase, Bybit, and Uniswap, among others. In September 2022, the company experienced a significant loss exceeding $160 million due to a hacking incident. However, subsequent investigations by blockchain experts cast doubts on the attack’s origin, hinting that it might have been an inside job.
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2024-07-19 17:20