Wintermute to pour $1B into AI, high-frequency trading amid TradFi expansion: Report
Wintermute will reportedly invest $1 billion in AI infrastructure and high-frequency trading as part of its expansion into traditional finance.
Crypto market maker Wintermute reportedly plans to invest up to $1 billion in artificial intelligence (AI) data center infrastructure and high-frequency trading over the next five years.
The plans include scaling up Wintermute’s non-crypto market activity to account for over 50% of its business by the end of 2027, up from the current 10%, Wintermute CEO Evgeny Gaevoy told Bloomberg.
Wednesday’s report said that as part of the plans, Wintermute will also double the staff in its 17-person New York office next year and expand its global headcount by about 40%. Cointelegraph has approached Wintermute for more details surrounding its expansion plans.