A Trading Firm Now Distances Itself From 3AC Amid The Fresh Fundraise Of $25 Million
Key Points:
- Wintermute, a large crypto market maker, was to distance itself from new fundraising by the co-founders of bankrupt hedge fund Three Arrows Capital (3AC).
- Wintermute is one of the largest algorithmic trading companies in crypto, trading over $5B a day, according to the firm.
On January 17, CoinDesk reported that a large crypto market maker namely Wintermute, was quick to disassociate itself from the fresh fundraising by the co-founders of insolvent hedge firm Three Arrows Capital (3AC), mirroring community opinions.
As Coincu reported, 3AC founders are raising $25 million in a new project in partnership with cryptocurrency exchange CoinFlex, a crypto exchange which is in the process of restructuring, to introduce investors to a new crypto exchange known as GTX, focused on authentic trading take ownership.
It intends to launch an exchange where customers may trade cryptocurrency, equities, and debt claims on insolvent firms such as FTX.
According to CoinDesk, GTX is planning to charge 0.25%-0.50% in fees and estimates time-to-market is “ASAP by end of February.” Once the claims trading has drawn people in, GTX said it will “fill the power vacuum left by FTX” by allowing its users to trade crypto, and eventually stocks.
However, the crypto community was quick to express its mistrust, with Wintermute’s CEO as the representative.
If you are investing into coinflex/3ac ‘exchange’ you might find it a bit more difficult to work with Wintermute in future (on the relationship building side).
wrote Wintermute CEO Evgeny Gaevoy in a tweet on Monday.
He also said unequivocally that his business will not be investing in any initiatives, including those of 3AC’s co-founders. “Similarly, we will not be participating in venture rounds when these folks are ready to enter the cap table,” Gaevoy said in another tweet.
For those unaware, Wintermute is one of the largest algorithmic trading companies in crypto, trading over $5B a day, acting as official market maker for top blockchain projects and investing into innovative decentralized protocols. It is also registered with FCA under AML-CTF regime for crypto companies.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news:Â https://linktr.ee/coincu
Thana
Coincu News
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A Trading Firm Now Distances Itself From 3AC Amid The Fresh Fundraise Of $25 Million
Key Points:
- Wintermute, a large crypto market maker, was to distance itself from new fundraising by the co-founders of bankrupt hedge fund Three Arrows Capital (3AC).
- Wintermute is one of the largest algorithmic trading companies in crypto, trading over $5B a day, according to the firm.
On January 17, CoinDesk reported that a large crypto market maker namely Wintermute, was quick to disassociate itself from the fresh fundraising by the co-founders of insolvent hedge firm Three Arrows Capital (3AC), mirroring community opinions.
As Coincu reported, 3AC founders are raising $25 million in a new project in partnership with cryptocurrency exchange CoinFlex, a crypto exchange which is in the process of restructuring, to introduce investors to a new crypto exchange known as GTX, focused on authentic trading take ownership.
It intends to launch an exchange where customers may trade cryptocurrency, equities, and debt claims on insolvent firms such as FTX.
According to CoinDesk, GTX is planning to charge 0.25%-0.50% in fees and estimates time-to-market is “ASAP by end of February.” Once the claims trading has drawn people in, GTX said it will “fill the power vacuum left by FTX” by allowing its users to trade crypto, and eventually stocks.
However, the crypto community was quick to express its mistrust, with Wintermute’s CEO as the representative.
If you are investing into coinflex/3ac ‘exchange’ you might find it a bit more difficult to work with Wintermute in future (on the relationship building side).
wrote Wintermute CEO Evgeny Gaevoy in a tweet on Monday.
He also said unequivocally that his business will not be investing in any initiatives, including those of 3AC’s co-founders. “Similarly, we will not be participating in venture rounds when these folks are ready to enter the cap table,” Gaevoy said in another tweet.
For those unaware, Wintermute is one of the largest algorithmic trading companies in crypto, trading over $5B a day, acting as official market maker for top blockchain projects and investing into innovative decentralized protocols. It is also registered with FCA under AML-CTF regime for crypto companies.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news:Â https://linktr.ee/coincu
Thana
Coincu News
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