Wintermute To Raise Funds At $2 Billion Valuation Amid Trump’s Return
Wintermute Trading, a prominent crypto market maker, is reportedly on the verge of a major funding round that could value the company at $2 billion. This potential deal, which may involve Chinese tech behemoth Tencent Holdings, comes at a time of renewed optimism in the crypto markets. The timing is particularly noteworthy, coinciding with former President Donald Trump’s potential return to the political arena and his advocacy for crypto-friendly policies.
Wintermute’s Funding Round and Company Profile
Crypto trading firm Wintermute Trading is reportedly in discussions with investors, including Chinese tech giant Tencent Holdings, to raise funds at a valuation of approximately $2 billion. This potential deal comes amid a resurgence in the cryptocurrency market and growing interest in former President Donald Trump’s crypto-friendly agenda.
According to sources familiar with the matter, the total deal size could range from $200 million to $300 million. This would include both new stock sales by Wintermute and the sale of existing shares by early investors and employees. They are a major player in the crypto market-making sector and appears to be capitalizing on the recent recovery in digital assets. If the reported valuation is accurate, this could be one of the largest cryptocurrency venture capital deals of the year.
The London-based company, led by CEO Evgeny Gaevoy, operates on over 50 platforms including Binance, Bybit, and Coinbase. They claim to have facilitated nearly $5 trillion in cumulative trading volume, a figure that has reportedly doubled in the past two years. In addition to its trading activities, they have also been involved in over 100 venture capital investments and recently secured a role in launching Hong Kong spot-crypto ETFs.
Also Read: WazirX Hack Update: Firm Working With 500 Exchanges And FIU To Recover Funds
The Intersection of Cryptocurrency and Politics
The cryptocurrency landscape is experiencing a significant shift as it increasingly intersects with politics. Former President Donald Trump’s support for Bitcoin has ignited intense discussions about the future of campaign financing and political strategies. This development is highlighted by Trump’s planned private fundraising event at the upcoming Bitcoin conference in Nashville, Tennessee, scheduled for late July.
As the U.S. presidential race gains momentum, key figures in the cryptocurrency industry are making bold claims about the transformative impact this moment could have on how politicians engage with digital currencies. This convergence of crypto and politics suggests a potential paradigm shift in campaign financing and political engagement strategies, with implications that could extend far beyond the current election cycle.
Also Read: Hong Kong Stock Exchange Sets Date For Asia’s First Bitcoin Inverse Product
The post Wintermute To Raise Funds At $2 Billion Valuation Amid Trump’s Return appeared first on CoinGape.
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