- Wintermute wants to invest $1 billion in artificial intelligence and high-frequency trading.
- The market maker aims to expand into traditional markets for equities, commodities, and currencies.
- The company plans to build out its trading and computing infrastructure over the next five years.
Crypto market maker Wintermute plans to invest around $1 billion in high-frequency trading and data center infrastructure for artificial intelligence over the next five years. Co-founder and CEO Evgeny Gaevoy said this in an interview with Bloomberg.
The company is looking to diversify its business and expand into traditional financial markets. This includes trading in equities, commodities, and currencies.
According to Gaevoy, Wintermute will have to compete with firms that have been building technology and infrastructure for these markets for decades.
To do that, he noted, it is not enough to simply cut execution times. The company plans to use more sophisticated quantitative models, large volumes of market data, and significant computing power.
The Company Wants to Use AI for Trading
Wintermute plans to spend funds on training and continuously retraining quantitative models, as well as on data storage systems and network infrastructure. Gaevoy noted that the company plans to finance these expenses from retained earnings.
Journalists noted that in 2021, Wintermute posted $582 million in profit amid a crypto bull market. The company did not disclose its financial results for subsequent years.
Gaevoy said Wintermute was profitable in 2025 and is on track for a similar result in 2026. He did not disclose detailed financial figures.
Still, the expansion into traditional markets comes against the backdrop of declining activity in the crypto sector. According to Gaevoy, Wintermute’s average daily trading volume fell from about $15 billion in 2025 to $10 billion in 2026.
At the same time, the company sees traditional finance and crypto as markets that could gradually converge.
Gaevoy noted that one possible scenario is further crypto adoption, while another is their gradual integration with the traditional financial system.
As a reminder, Wintermute previously obtained a broker-dealer license in the US.