Wintermute pledges $1 billion to reach majority non-crypto revenue
Crypto firm Wintermute is putting about $1 billion into building up its AI and high-speed trading tech over the next five years.
The goal? To move beyond just crypto and make serious moves in stocks, commodities, and foreign exchange.
Right now, only 10% of its revenue comes from non-crypto sources, but it is aiming for over 50% by the end of 2027.
Wintermute funds HFT and AI infrastructure
This investment will go into data-center infrastructure for high-frequency trading and artificial intelligence over the next five years, key for competing with giants like Citadel Securities.
founder and CEO Evgeny Gaevoy says having top-tier infrastructure is a must if he wants to keep up.
Even though crypto trading has slowed down lately, Gaevoy sounds confident about Wintermute's future profits as it branches out into new markets.