Wintermute Establishes New York Presence, Citing Improved US Crypto Climate
Wintermute, a prominent London-based algorithmic crypto trading and market-making firm, has officially launched its New York office, marking a significant expansion into the United States. This move signifies the company’s confidence in the evolving regulatory environment for digital assets within the US.
Announced on May 15, Wintermute’s decision to establish a physical presence in New York is directly linked to the perceived improvements in the regulatory landscape. The firm believes the US is adopting a more welcoming stance toward digital assets, leading to increased institutional adoption. This expansion allows Wintermute to actively participate in shaping the future of crypto regulation in the country.
“As the US takes a friendlier stance on digital assets and institutional adoption accelerates, we moved quickly to establish roots in New York City,” Wintermute stated in a May 15 X post. The company emphasized that its local presence will enable it to contribute to the ongoing regulatory discussions.
Evgeny Gaevoy, CEO of Wintermute, expressed the company’s enthusiasm for its expansion: “We’re eager to continue our growth and play an integral role in the U.S. market. As a neutral player with deep expertise in all areas of digital assets, we believe we are well-positioned to lend our expertise on Capitol Hill.”
Ron Hammond Appointed Head of Policy and Advocacy
To further solidify its commitment to the US market, Wintermute has appointed Ron Hammond as its new Head of Policy and Advocacy. Hammond brings a wealth of experience to the role, with a decade dedicated to shaping crypto policy on Capitol Hill. He was previously the senior director of government relations and institutional engagement at the Blockchain Association and served as the policy lead for US Representative Warren Davidson.
Notably, Hammond was the author of the Token Taxonomy Act of 2021, which was the first bipartisan-supported crypto regulatory bill in the US. His expertise will be crucial as Wintermute navigates the complex regulatory landscape and advocates for policies that foster innovation and responsible growth within the digital asset industry.
US Expansion Trend Among Crypto Firms
Wintermute’s expansion is part of a broader trend of crypto firms establishing or expanding their presence in the United States. Since President Donald Trump took office on Jan. 20 after winning the 2024 presidential election and signaled his administration’s intention to prioritize crypto policy, the US has become an increasingly attractive market for crypto companies. Trump’s campaign signaled that his administration intends to make crypto policy a national priority, bolstering expectations for more innovation-friendly crypto regulations for the next four years.
Several other major crypto firms have announced their expansion plans in the US, encouraged by growing regulatory clarity. These include Binance.US, eToro, OKX exchange, Nexo, Circle, Crypto.com and a16z, signaling a positive outlook for the crypto industry within the country.
Wintermute’s Engagement with Regulators
Wintermute is actively engaging with US regulators to contribute to the development of a comprehensive regulatory framework for digital assets. The company has already met with the SEC Crypto Task Force and plans to continue offering technical input and participating in key legislative efforts.
“We’ve already met with the SEC Crypto Task Force and will continue offering technical input and contributing to key legislative efforts,” the company said, adding that these are “essential for continued institutional participation.”
Wintermute views this collaboration as essential for fostering institutional participation and ensuring the responsible growth of the crypto industry within the US.
Stablecoin Legislation in Focus
The industry is closely monitoring the progress of key stablecoin legislation, particularly the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act. While the STABLE Act has advanced through the House Financial Services Committee, a second piece of stablecoin legislation, the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, initially failed to garner sufficient support. However, momentum toward regulatory clarity is still considered active in both chambers.
Key Takeaways:
- Wintermute opens New York office, expanding its US presence.
- Expansion driven by improved US crypto regulations and institutional adoption.
- Ron Hammond appointed Head of Policy and Advocacy to shape crypto policy.
- Wintermute actively engages with SEC and contributes to legislative efforts.
- Stablecoin legislation remains a key focus for the crypto industry.
