PlayIconNav
BTC
$66,775.26-0.02%
ETH
$3,110.84+0.69%
BNB
$578.05-0.27%
SOL
$171.24+2.19%
XRP
$0.52131966-0.71%
DOGE
$0.15284139-0.82%
ADA
$0.48284865+0.01%
SHIB
$0.00002454-1.31%
AVAX
$37.22+1.51%
TRX
$0.12352082-0.95%
WBTC
$66,864.52+0.13%
Ad
Headline: Type headline here...Sub-Headline: Type sub-headline here, for no more than 2 lines. (about 90 characters)
00
DAYS
00
HR
00
MIN
00
SEC
Markets

Lightspeed Venture Invests $2.8M in Crypto Market Maker Wintermute

Funding will go towards expanding its liquidity products across the crypto derivatives market.

By Paddy Baker
AccessTimeIconJul 7, 2020 at 4:52 p.m. UTC
Updated Aug 19, 2021 at 2:57 a.m. UTC
wintermute-team-photo-2-attribute-to-_wintermute_
Static Headline: Amazing Event
Static Subheadline: Oct 24, 2023 - City, StateStatic description: Where the industry establishes the digital economy’s legal, regulatory and compliance best practices for the future.Subscribe Today

Wintermute, an algorithmic liquidity provider, has received a $2.8 million investment from the prominent early-stage firm Lightspeed Venture Partners.

  • The London-based firm distributes liquidity with techniques similar to those used in high-frequency trading and traditional market making.
  • Founded in 2017, Wintermute provides liquidity on more than 500 spot trading pairs, on dYdX perpetual swaps and a handful of crypto exchange-traded products (ETPs) from 21Shares (formerly Amun).
  • The market maker will use the funding to expand further into crypto derivatives, as well as into the over-the-counter and decentralized finance spaces.
  • The Series A comes months after Wintermute raised an undisclosed seven-figure sum in a seed round led by Blockchain.com's venture arm in February.
  • Lightspeed was the first outside investor into Snap, the company behind the popular video messaging app Snapchat, in 2012; it also participated in an angel round for Ripple, when it was still known as OpenCoin, in April 2013.
  • Partner Jeremy Liew said market makers were fast becoming essential infrastructure providers as the growth of new crypto market subsets and diverging regulatory regimes had seen the number of standalone exchanges explode.
  • In 2014, Lightspeed led Blockchain.com's $30.5 million Series A; the California-based investment firm raised a total of $4.1 billion across three funds in April this year.
VolumeMuteUnmute

Guild of Guardians Built to 'Win' the Web2 Mobile Space: Game Director

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0

    • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.