Trading Company Eyes $2 Billion Funding Boost with Tencent’s Backing

Wintermute Trading Ltd., a key cryptocurrency trading firm, is reportedly aiming to secure up to $2 billion in funding.

Tencent Holdings Ltd. is among the potential investors. The deal may see employees and early backers selling some of their shares, with the funding round expected to bring in between $200 million and $300 million.

Wintermute, a major market maker in the digital asset space, is leveraging the current positive trend in cryptocurrencies, further boosted by recent supportive policies in the sector.

This round of funding would be one of the largest in the cryptocurrency market this year. While initial talks included a $100 million share sale, the final figures and terms are still being finalized.

READ MORE:

Weaknesses in Centralized Systems Highlight Bitcoin’s Resilience

Headquartered in London and led by CEO Evgeny Gaevoy, Wintermute operates across numerous platforms, including Binance and Coinbase. The firm has executed transactions exceeding $5 trillion and has made over 100 venture investments.

Recently, Wintermute played a crucial role in launching spot-crypto ETFs in Hong Kong, providing essential liquidity for major exchanges. Their last funding event was a $20 million Series B round in early 2021, supported by Lightspeed Ventures, Pantera Capital, and Hack VC. Tencent has a history of investing in blockchain projects, including Everledger and Immutable.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.