Crypto market maker Wintermute plans to invest about $1 billion in high-frequency trading and artificial intelligence data-center infrastructure over five years as it expands into stocks, commodities and foreign exchange.
The London-based firm wants non-crypto markets to generate more than 50% of revenue by the end of 2027, up from 10% now, according to a Bloomberg report citing founder and CEO Evgeny Gaevoy. Wintermute expects to fund the spending with retained earnings.
The push follows a drop in crypto activity. Wintermute’s average daily trading volume fell to about $10 billion this year from $15 billion in 2025 as bitcoin declined to roughly half its October peak above $126,000.
Institutions accounted for a record 72% of spot trading volume on its over-the-counter desk in the first half of 2026.
Gaevoy said the privately held company was profitable in 2025 and expects to remain profitable this year, without providing figures. Wintermute recorded $582 million in profit during the 2021 crypto bull market, according to Forbes.
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Francisco Rodrigues
https://www.coindesk.com/business/2026/08/12/wintermute-plans-usd1-billion-ai-push-beyond-crypto-bloomberg
2026-08-12 16:34:00
