London-based cryptocurrency trading firm Wintermute is targeting the US market with a new New York office.
Why Is Wintermute Relocating to the US?
Therefore, on February 19, CEO Evgeny Gaevoy said that although the company’s been primarily focusing on Asian markets, they now see a huge opportunity in the US. He believes that with Donald Trump in power, the US gonna have more crypto-friendly regulations.
Gaevoy is optimistic that most of the legal proceedings against crypto companies and tokens will be withdrawn in the near future. He is also of the view that US regulation will influence other nations and serve as a global model.
Then what does Wintermute plan to do in America?
Wintermute also intends to grow its US-headquartered Over-the-Counter (OTC) trading and derivatives business. The New York office will be approximately 5 to 10 personnel, mainly for business development and operations. But information purposes only, they will not be hiring traders for the US office.
CEO’s Perception of Memecoins
Gaevoy also discussed memecoins and how they affect the crypto space. He feels they damage the space because they take liquidity away from other projects.
He said that when new tokens are released, they take money away from existing tokens, so it becomes harder for the market to grow.
But he also said that it’s completely normal for new tokens to lose value, and it’s not due to platforms such as Binance or Wintermute.
