- Wintermute Trading, a cryptocurrency market maker, is presently in talks to launch a fresh round of funding.
- According to persons familiar with the situation, The Information stated that the corporation plans to sell shares valued at $100 million, with a percentage of the proceeds going to current shareholders.
In addition, Wintermute plans to issue additional shares—the exact number is still unknown.
According to the sources, discussions are under progress and certain aspects are still up for debate.
Wintermute Asia Increases Offerings
Through the oneZero network, Wintermute Asia, a cryptocurrency derivatives trading company, has recently increased the range of services it offers by getting access to spot and CFD (Contract for Difference) products.
Since March, CFDs have been added to Wintermute’s current line of OTC derivatives products. The market maker reports that trading volumes have increased significantly, more than tripling by June.
Contracts for difference, or CFDs, are derivative products that let investors speculate on how different markets’ prices will fluctuate in the future.
Banks and other financial institutions use the oneZero network as a trading technology platform to ensure smooth operations.
When Wintermute revealed in May that it would be lending liquidity and support to recently established Hong Kong spot Bitcoin and Ethereum exchange-traded funds (ETFs), the news grabbed attention.
The market maker provides liquidity to OSL Digital Securities and HashKey HK Exchange, two licensed digital asset platforms in Hong Kong.
Even though cryptocurrency exchanges are operating in a difficult environment, Wintermute announced a 400% increase in over-the-counter (OTC) trading volume in 2023.
Wintermute’s OTC trading volume increased in spite of market downturns, demonstrating the company’s tenacity and proficiency in managing the erratic market.
Funding for Crypto Startups Exceeds $100 Billion
Over the last ten years, funding for cryptocurrency businesses has increased significantly, and since May 2014, they have surpassed the remarkable $100 billion milestone.
With more than $7 billion raised in October 2021, the month marked the height of cryptocurrency startup fundraising.
$3.67 billion was the second-highest financing amount ever reported in February 2022.
According to recent study, investors in the US account for about half of all bitcoin funding.
The remaining investments are split between other nations; according to data from the second quarter of 2023, the United Kingdom makes for 7.7% and Singapore accounts for 5.7%.
Notably, between late 2023 and the first half of 2024, a number of well-known fundraising transactions have occurred.
collectively.Wormhole, a cross-chain protocol, and Totter, an open-source cloud storage company, raised $225 million and $101 million, respectively, while Eigenlayer and Totter raised $100 million and $101 million.
Other noteworthy fundraising rounds include Blockchain.com’s $110 million and Swan Bitcoin’s $165 million raise.
These substantial investments demonstrate the public’s ongoing faith in and interest in the bitcoin space.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
