Wintermute Bets Big on Traditional Finance with $1 Billion AI Push

Crypto market maker Wintermute is expanding into traditional finance with an ambitious investment plan. Over the next five years, the company will invest up to $1 billion in AI data centre infrastructure and high-frequency trading. This move aims to boost the share of non-crypto market activity from around 10% currently to more than 50% by the end of 2027.

The investment plan includes doubling the headcount at Wintermute's New York office, which will have 17 employees next year, and increasing global headcount by about 40%. This expansion is expected to strengthen trading capabilities in traditional asset markets. As part of this effort, Wintermute plans to expand its presence in the U.S. market.

This development comes as crypto firms are increasingly looking to traditional finance for new revenue sources. The trend of tokenizing traditional assets has gained momentum with major exchanges like Coinbase, Binance, and Kraken launching tokenized stock products. Crypto.com also recently announced its entry into this space by providing initial access to 1,500 stocks and funds based on underlying assets.