Popular algorithmic cryptocurrency trading and market maker, Wintermute is expanding to the United States digital assets hub. The London-based company made the announcement on Thursday via its official page on X.
As part of the expansion effort, the firm revealed the opening of an office in New York. By that, Wintermute became the latest digital assets company to establish a physical presence in the US under Trump’s administration.
In recent times, companies like Binance.US, eToro, OKX exchange, Nexo, Circle, Crypto.com, and a16z have returned to the US crypto market. Wintermute said the relaxed regulatory atmosphere in the US inspired the expansion move.
According to the statement, the liquidity provider mentioned how the new approach alongside the institutional adoption of virtual assets made it mandatory to swiftly establish its presence in New York. Wintermute added that its presence in the US will enable the company to contribute to the future of crypto regulation in the country.
The CEO of Wintermute, Evgeny Gaevoy said the firm is glad to continue its growth and play an important role in the US market. Additionally, the CEO stressed that the company’s expertise across all areas of digital assets will empower Wintermute to contribute to the advancement of the US crypto hub.
Wintermute appoints Ron Hammond as head of policy and advocacy
More so, the company also announced the appointment of Ron Hammond to head its policy and advocacy initiatives. The market maker emphasized that the appointment of Hammond is vital to its US expansion effort.
Wintermute emphasized that Hammond will bring his wealthy experience to the firm. The company disclosed how the expert has held various positions including the senior director of government relations and institutional engagement with the Blockchain Association.
Likewise, Hammond also worked with US Representative Warren Davidson as policy lead. One major accolade to his name is the Token Taxonomy Act of 2021 he authored, making history as the first bipartisan-supported cryptocurrency regulatory bill in the US.
However, the expansion move underlines how the liquidity provider has overcome the $160 million hack setback it endured in 2022. According to a Binbits report, the attack is one of the biggest the cryptocurrency space endured during the year.
Popular crypto security firm CertiK in a publication disclosed that the breach manifested as a result of a leaked private key. The revelation fueled rumors that the attack could be insider work.
Despite the attack, the CEO of the company emphasized that the firm is solvent and promised to reimburse affected customers.
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