๐๐๐๐๐: ๐๐ข๐ง๐ญ๐๐ซ๐ฆ๐ฎ๐ญ๐ ๐ข๐ง๐ญ๐๐ ๐ซ๐๐ญ๐๐ ๐ฌ๐ฉ๐จ๐ญ ๐๐ง๐ ๐๐๐ซ๐ข๐ฏ๐๐ญ๐ข๐ฏ๐๐ฌ ๐ฅ๐ข๐ช๐ฎ๐ข๐๐ข๐ญ๐ฒ ๐ข๐ง๐ญ๐จ oneZero Financial Systems ๐๐๐จ๐๐ฒ๐ฌ๐ญ๐๐ฆ The integration brings: โฃ Deep liquidity for 350+ spot and CFD trading pairs with reliable 24/7/356 pricing โฃ Marketโs first multi-currency collateral support is now available to leading financial institutions through oneZeroโs robust infrastructure Read more:
Wintermute
Financial Services
London, Greater London 18,217 followers
Wintermute is a leading liquidity provider in digital assets and a one-stop shop OTC. Posts not directed at UK users
About us
Wintermute is one of the largest crypto-native algorithmic trading companies in digital assets. We provide liquidity algorithmically across most cryptocurrency exchanges and trading platforms, offer a broad range of OTC trading products, and support high-profile Web3 projects and traditional financial institutions moving into crypto. We actively participate in the development of the cryptocurrency ecosystem through investments, partnerships, and incubation of projects. Wintermute was founded in 2017 by industry leaders and has successfully navigated multiple crypto industry cycles. Culturally, we combine the best of the two worlds: the technology standards of high-frequency trading firms in traditional markets and the innovative and entrepreneurial culture of technology startups.
- Website
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http://wintermute.com
External link for Wintermute
- Industry
- Financial Services
- Company size
- 51-200 employees
- Headquarters
- London, Greater London
- Type
- Privately Held
- Founded
- 2017
- Specialties
- algorithmic trading, cryptocurrency, crypto exchanges, high-frequency making, quantitative trading, crypto projects, crypto liquidity, software development, algorithms development, trading applications development, high frequency trading, crypto exchange, crypto arbitrage, ieo, DeFi, CeFi, and programmatic trading
Locations
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Primary
London, Greater London, GB
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Singapore, SG
Employees at Wintermute
Updates
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๐ ๐๐๐ซ๐ค๐๐ญ ๐ฎ๐ฉ๐๐๐ญ๐ โ ๐๐ ๐๐ฎ๐ฅ๐ฒ ๐๐๐๐ โฃ Bitcoin surged 10.2% last week to $67,000 โฃ Spot Ethereum ETF launched on July 23 with some offering initial fee waivers โฃ Solana DEXes surpassed Ethereum DEXes in monthly trading volume for the first time Here's our weekly breakdown: ๐๐ข๐ญ๐๐จ๐ข๐ง'๐ฌ ๐๐จ๐ง๐ญ๐ข๐ง๐ฎ๐๐ ๐๐ฉ๐ฐ๐๐ซ๐ ๐๐จ๐ฆ๐๐ง๐ญ๐ฎ๐ฆ Bitcoin maintained its growth, surging by 10.2% from $60,800 to $67,000. Altcoins mirrored this movement, with their total market capitalization increasing by 6.5% to $625 billion. Since July 5, the altcoin market cap has surged by 25%, led by memecoins. Key market indicators: โฃ Total open interest in perpetual futures increased by 13% to $44 billion โฃ Funding rates for BTC and ETH remained low, indicating spot-driven activity โฃ Implied volatility in BTC and ETH saw a sharp rise, particularly in shorter-term tenors โฃ Stablecoin market cap reached $164.4 billion, the highest since May 2022, indicating growing investor confidence ๐๐ฉ๐จ๐ญ ๐๐๐ ๐๐ฉ๐๐๐ญ๐ U.S. Spot Bitcoin ETFs recorded $1.2 billion of inflows last week, with IBIT leading at $600 million. July's inflows have reached $2.4 billion, compensating for over two-thirds of the German government's total outflows. July's spot Bitcoin ETF inflows exceeded May's, but total trading volume decreased. This is mainly due to reduced GBTC outflows, which fell 58%, limiting arbitrage opportunities. Grayscale's market share dropped to 20%, while BlackRock and Fidelity dominated with 69% of trading volume. Ethereum ETF fee structures: โฃ Most ETF issuers are charging between 0.19% and 0.25% management fees โฃ Some issuers are offering initial fee waivers for a limited period โฃ Grayscale has introduced two funds with different fee structures: - ETHE: 2.5% fee post-conversion, no initial waiver - Ethereum Mini Trust: No fees for first six months or until $2 billion AuM, then 0.15% ๐๐จ๐ฅ๐๐ง๐ ๐๐๐ ๐ข ๐๐จ๐จ๐ฆ Solana's DeFi ecosystem is booming, with DEX volume surpassing Ethereum's for the first time. Solana's DeFi TVL has grown from under $1 billion to nearly $5 billion in seven months, driven by liquid staking. JITO leads this sector with $1.92 billion TVL. While Solana's overall staking ratio (68%) exceeds Ethereum's (28%), only 10% of staked SOL is liquid-staked, compared to Ethereum's 33%. Solana's liquid staking market growth may lead to increased adoption and innovation. Given the rapid expansion of the Solana LST market this year, a similar level of adoption and innovation within the Solana ecosystem could be on the horizon, potentially enhancing its capabilities and liquidity. The crypto markets have shown robust performance over the past two weeks despite weakness in equities. With ETH ETFs set to launch this week and Trump scheduled to speak at the Bitcoin Conference, traders anticipate a potentially positive week ahead.
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๐ Market update โ 15 July 2024 Bitcoin's price surged 8.6% last week, driven by strong spot ETF inflows, positive economic data, and shifting political odds. Meanwhile, Genesis sold 13,000 BTC, and BTC's Pearson correlation coefficient shows a decoupling with TradFi assets. Here's our weekly breakdown: ๐๐ข๐ญ๐๐จ๐ข๐ง'๐ฌ ๐๐๐ฌ๐ข๐ฅ๐ข๐๐ง๐๐ ๐๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ Bitcoin regained some strength last week, gaining 7.6% and closing at $60,806. This positive momentum extended to the broader altcoin market, which saw an 8.5% increase in total market capitalization. Funding rates remained low, suggesting buying pressure primarily from spot markets rather than futures, indicating lower leverage levels. 4 key factors that drove recent price action: 1. Tapering GBTC outflows: Grayscale's monthly sell-off dropped to just $15 million in July, while new ETF inflows remain strong at $144 million 2. Market absorption of large sell-offs: The German government transferred 40,000 BTC to exchanges, yet Bitcoin's price increased by 4%, showcasing market resilience 3. Positive CPI print: June's core CPI rate came in at 3.3%, below the expected 3.4%, increasing the probability of a September rate cut from 68.1% to 88% 4. Political events: A failed assassination attempt on former President Trump boosted his election odds, leading to market rallies due to his pro-business and crypto-friendly stance ๐๐๐ง๐๐ฌ๐ข๐ฌ: ๐๐ก๐ ๐๐๐ฑ๐ญ ๐๐ข๐ ๐๐๐ฅ๐ฅ๐๐ซ? Genesis has transferred over 13,000 BTC to exchanges in the past month, with 33,000 BTC and $370 million in ETH still in their wallets. These movements are likely part of ongoing bankruptcy proceedings. Recent developments in Genesis's case: โฃ Gemini Earn users received full asset recovery, totaling $2.18 billion โฃ A court order to return $3 billion in customer assets โฃ Genesis claims now trading between 97-110% for claims over $10 million and 74-94% for claims under $1 million ๐๐ซ๐ฒ๐ฉ๐ญ๐จ ๐๐๐๐จ๐ฎ๐ฉ๐ฅ๐ข๐ง๐ ๐๐ซ๐จ๐ฆ ๐๐ซ๐๐๐ ๐ข ๐๐ฌ๐ฌ๐๐ญ๐ฌ A significant shift in correlations between crypto and traditional assets has emerged: โฃ Bitcoin's 30-day Pearson correlation coefficient with the S&P 500 dropped from 0.86 to -0.85, the strongest de-correlation in 4.5 years โฃ Correlation with Gold decreased from 0.45 to -0.43, shifting from moderately positive to moderately negative correlation This divergence may be due to post-halving consolidation and ongoing institutional sell-offs. However, given that the catalysts are temporary and magnitude of decoupling, correlations may pick up again in the near future. After dropping to $54,000 in early July, BTC has shown a sharp 17% reversal. With favorable macro indicators, we may soon see a breakout from the four-month range. However, investors should remain aware of potential volatility from anticipated sell pressure. While the timeline for further liquidations remains unclear, the market's recent ability to absorb large sell-offs provides some optimism.
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๐ข ๐๐ข๐ง๐ญ๐๐ซ๐ฆ๐ฎ๐ญ๐ ๐ข๐ง๐ญ๐๐ ๐ซ๐๐ญ๐๐ฌ ๐ฌ๐ฉ๐จ๐ญ ๐๐ง๐ ๐๐๐ซ๐ข๐ฏ๐๐ญ๐ข๐ฏ๐๐ฌ ๐ฅ๐ข๐ช๐ฎ๐ข๐๐ข๐ญ๐ฒ ๐ข๐ง๐ญ๐จ ๐ญ๐ก๐ ๐จ๐ง๐๐๐๐ซ๐จ ๐๐๐จ๐๐ฒ๐ฌ๐ญ๐๐ฆ We're excited to announce the integration of our ๐๐ ๐ ๐๐ง๐ ๐ฌ๐ฉ๐จ๐ญ ๐ฅ๐ข๐ช๐ฎ๐ข๐๐ข๐ญ๐ฒ into the oneZero Financial Systems EcoSystem and mark another step in expanding our presence to traditional finance venues. oneZero is the leading multi-asset class enterprise trading technology provider for banks and institutions. Their liquidity-neutral EcoSystem covers more than 250 brokers, banks, and liquidity providers who trade USD 200Bn+ in notional volumes across a variety of asset classes. Wintermute is ideally positioned to offer deep liquidity and reliable 24/7/356 pricing through the oneZero EcoSystem. ๐๐๐ฒ ๐ก๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ: โฃ CFDs are a newer addition to Wintermuteโs #OTC derivatives offering but have seen trading volumes grow 3x since their launch in March โฃ Leading financial institutions can now access Wintermuteโs tight spreads, competitive margins, no fees, and 99.9% uptime for 350+ #CFD and spot trading pairs through oneZeroโs robust infrastructure โฃ Wintermuteโs ๐ฆ๐๐ซ๐ค๐๐ญ-๐๐ข๐ซ๐ฌ๐ญ ๐ฆ๐ฎ๐ฅ๐ญ๐ข-๐๐ฎ๐ซ๐ซ๐๐ง๐๐ฒ ๐๐จ๐ฅ๐ฅ๐๐ญ๐๐ซ๐๐ฅ ๐ฌ๐ฎ๐ฉ๐ฉ๐จ๐ซ๐ญ, which allows traders to post any cryptocurrency or fiat as margin collateral for CFD trading, is available to oneZero clients from day one For more details on how we can support your trading needs, visit or contact our team at trade@wintermute.com. ๐ Read the full release: https://hubs.li/Q02GJYtR0 #onezero #institutional #liquidity #FX #wintermute โ CFD trading is offered by Wintermute Asia, the digital asset derivatives trading arm of Wintermute Group, based in Singapore. This material is provided solely for informational purposes and is intended only for sophisticated investors. Specifically, derivatives trading with Wintermute Asia is not suitable for retail persons. Trading CFDs involve significant risks including price volatility and illiquidity and may not be suitable for all investor
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๐ ๐๐๐ซ๐ค๐๐ญ ๐ฎ๐ฉ๐๐๐ญ๐ โ ๐ ๐๐ฎ๐ฅ๐ฒ ๐๐๐๐ Last week saw significant market volatility, with Bitcoin experiencing its largest percentage drop since the FTX fallout in November 2022. Meanwhile, FTX's bankruptcy estate unveiled plans to distribute up to $16.4 billion to creditors. Here's a breakdown of key events: ๐๐๐ซ๐ค๐๐ญ-๐๐ข๐๐ ๐๐๐ฅ๐ฅ-๐๐๐ ๐๐ง๐ ๐๐ง๐ฌ๐ญ๐ข๐ญ๐ฎ๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ฎ๐ญ๐๐ฅ๐จ๐ฐ๐ฌ Bitcoin dropped 14.5% to $53,500, its lowest since February, before recovering to $56,500. This sharp decline represents the first pullback of over 25% from the all-time high in this cycle, something not uncommon during bull markets. Despite the recent drawdown, Bitcoin remains up 260% from its cycle low of $15,500 due to the spot ETF-drive BTC rally. The broader market felt the impact, with total open interest (OI) falling from $42.8 billion to $35.8 billion and altcoin market capitalization dropping to $513 billion, its lowest since February. Liquidations exceeded $1.1 billion within three days, the highest since April, while the Fear and Greed Index fell to 29, the lowest level since January 2023. The market panic was likely triggered by significant institutional outflows. Mt. Gox moved 47,229 BTC ($2.71 billion) to an unidentified wallet, while the German government moved 2,892 BTC ($171 million) to exchanges and 5,500 BTC ($360 million) to an unidentified address. If all Mt. Gox BTC were sold over three months, it would exert $84 million of average daily sell pressure. For context, GBTC's average daily sell pressure over 120 trading days is $128 million, while new spot ETFs provide a daily cumulative net buy pressure of $248 million. ๐ ๐๐ ๐๐๐๐จ๐ฏ๐๐ซ๐ฒ ๐๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค In contrast to the selling pressure, the FTX bankruptcy proceedings offer a potentially positive development. The latest reorganization plan estimates $14.7 - $16.4 billion worth of cash for distribution to FTX customers and creditors. The convenience class will receive 118% of nominal value within 60 days post-plan activation, while larger claims will receive 127-142% of nominal value. Initial distributions are expected by year-end or early next year, and FTX claims are now trading between 101% and 112% on the dollar. Looking ahead, Bitcoin has historically grown by approximately 10% in July and has shown a tendency to recover strongly following negative performance in June. However, the unfolding Mt. Gox saga and government sell-offs could introduce additional market volatility. The potential influx of liquidity from FTX creditor repayments could counterbalance current market sell pressure, offering a ray of hope amidst the turbulence. While recent events have undoubtedly shaken the crypto market, historical patterns and upcoming developments suggest there may be potential for recovery. But the question remains: In light of these complex and often conflicting market forces, how will investors navigate the path forward?
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Weโre heading to Brussels for EthCC! ๐ค Meet our BD team Jonathan Chan, Katryna Hanush, Willis Croft and Ayt B. to explore our OTC and liquidity offerings. ๐ก Connect with our DeFi and Ventures team if youโre building something exciting in this space or want to bounce ideas with us. ๐ค Join us for insightful discussions at the following events ๐กซ โ Katryna Hanush, our Managing Director will take the stage at the Real-World Asset Summit for a panel discussion with other panelists from Citi Markets, Franklin Templeton, Keyrock, Laser Digital, and Galaxy. ๐ 9 July, 4:45 pm ๐ Conservatory stage ๐ค Topic: Creating liquidity for tokenized assets Apply to attend: https://lnkd.in/e-pa2gwW โ Li Xi, our DeFi Solver, will join the panel discussion at the Pyth Network Agora 2024 with panelists from Auros, Swaap Finance, and Flowdesk ๐ 11 July, 3:20pm ๐ Chalet Robinson ๐ค Topic: The State of Liquidations and On-Chain Market Making RSVP for Pyth Agora 2024: https://lnkd.in/dRyGv5AF โ ๐ Plus, we will take time to unwind and wrap up EthCC with evening drinks and good company. โ Our team is looking forward to speaking with and meeting you at EthCC! DM us to set up a meeting ๐ฉ #EthCC #digitalassets #crypto #defi #web3 #ethereum
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๐ We are excited to share that Wintermute Pulse is now available on Bloomberg Terminal (Bloomberg Professional Services)! Our daily and weekly market color, directly from our OTC desk, offers: โฃ Up-to-date flow analysis โฃ Comprehensive market positioning โฃ Narrative tracking across a wide range of digital assets Use code โNH WMTโ in the launchpad and access the most up-to-date crypto market color directly on Bloomberg Terminal. #bloombergterminal #marketcolors #wintermute #digitalassets
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We are thrilled to continue our partnership with OG Esports! ๐ Since 2020, our shared values in teamwork, strategic play, and growth have driven success for both brands. Our mutual passion for gaming, particularly Dota 2, has made this ongoing collaboration a natural fit. At Wintermute, gaming is deeply ingrained in our culture, and we see strong parallels between gamers and traders - both thrive on competition, adaptability, and strategic thinking. This partnership allows us to tap into new talent pools, ensuring we continue to attract top talent and foster a dynamic work environment. ๐ Read more about our renewed partnership: https://lnkd.in/gbbZK_RA #Wintermute #OGEsports
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Wintermute reposted this
Exciting News ๐ค We're excited to welcome Yoann T., Co-Founder of Wintermute as a speaker at #KBW2024: IMPACT! Discover how Wintermute is creating liquid and efficient markets throughout Web3. See you there ๐ฐ๐ท
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Wintermute reposted this
Delighted to join Coinfest Asia this year to represent Wintermute
Unveiling our newest lineup of influential speakers! Connect directly with industry innovators to exchange insights and ideas. Saad Ahmed from Gemini Yoann T. from Wintermute Andy Cho from Frax Finance Wei Z. from Coins.ph and many more to be announced! Secure your tickets NOW at https://lnkd.in/gw9BShGd