Wintermute to Invest Up to $1 Billion in AI and High-Frequency Trading

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. Wintermute is the latest crypto-native firm to expand into traditional finance (TradFi), as digital assets trading platforms add tokenized traditional assets in pursuit of new revenue streams. Some of the largest crypto exchanges that launched tokenized stock offerings include Coinbase, Binance and Kraken. Crypto.com announced its entry into the segment on Wednesday with initial access to 1,500 underlying stocks and funds. Wall Street entities are also exploring tokenized equities. In March, the US Securities and Exchange Commission approved Nasdaq’s pilot proposal to support the trading of tokenized versions of high-volume stocks and securities. Days later, on March 24, the New York Stock Exchange partnered with tokenization platform Securitize to develop blockchain-based trading infrastructure for Wall Street, including tokenized shares of stocks and exchange-traded funds.