Wintermute Establishes New York Presence Amid Improved Regulatory Climate

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BTCPEERS2025/05/15 08:40

By:Albert Morgan

Wintermute Establishes New York Presence Amid Improved Regulatory Climate image 0

Wintermute, a London-based algorithmic crypto trading and market-making firm, has opened an office in New York as part of its expansion into the US market. The company announced the opening on May 15, specifically citing improved regulatory conditions in the United States as the primary motivation for this strategic move. According to Cointelegraph, Wintermute CEO Evgeny Gaevoy stated, "We're eager to continue our growth and play an integral role in the U.S. market."

As part of this expansion, Wintermute has appointed Ron Hammond as its new head of policy and advocacy. Hammond brings a decade of experience shaping crypto policy on Capitol Hill, having previously served as the senior director of government relations at the Blockchain Association and authored the Token Taxonomy Act of 2021, the first bipartisan-supported crypto regulatory bill in the US.

Growing Trend of Crypto Firms Entering US Market

Wintermute joins at least eight other major cryptocurrency companies that have announced US expansion plans this year. These firms include Binance.US, eToro, OKX exchange, Nexo, Circle, Crypto.com, and a16z, all banking on growing regulatory clarity in the world's largest economy, according to Bloomberg.

This migration of crypto businesses to the US represents a notable shift from previous years when regulatory uncertainty drove companies away. The Trump administration's pro-crypto stance has been a significant catalyst for this change. In January 2025, President Trump signed an executive order declaring crypto a national priority and supporting "the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy," as reported by Grant Thornton.

Industry experts see this trend continuing throughout 2025. According to Coinbase Institutional, "The foundations for greater regulatory clarity in the US were laid in 2024, long before November's elections. This has set the stage for greater advancements in 2025, potentially solidifying the role of digital assets in mainstream finance."

New York's Regulatory Framework Evolves

New York has historically maintained one of the strictest regulatory environments for cryptocurrency businesses through its BitLicense program, established in 2015. The license requires businesses conducting digital asset activities to register with the New York Department of Financial Services (NYDFS). While initially criticized for driving businesses away, the framework has evolved to become what many now consider the gold standard for state-level regulation.

Recent legislative developments in New York indicate further evolution of the state's approach to cryptocurrency. In February 2025, New York established a cryptocurrency and blockchain study task force through Senate Bill S4728, aimed at providing the governor and legislature with information on the effects of widespread cryptocurrency use. Additionally, Assembly Bill A7788, introduced in April 2025, proposes to allow state agencies to accept cryptocurrencies such as Bitcoin and Ethereum as payment for government services.

Wintermute specifically mentioned its plans to contribute to the emerging regulatory framework. The company has already met with the SEC Crypto Task Force and stated it "will continue offering technical input and contributing to key legislative efforts," which they described as "essential for continued institutional participation," according to their announcement.

Market Impact and Growth Projections

The cryptocurrency market is experiencing significant growth in 2025, with institutional adoption serving as a primary driver. According to Security.org, "Cryptocurrency ownership has nearly doubled in the three years since the end of 2021. In 2025, approximately 28% of American adults, or about 65 million people, own cryptocurrencies."

The global cryptocurrency market is projected to reach $5 billion by 2030, according to a recent business report cited by Globe Newswire. This growth is supported by increasing demand for decentralized financial systems, integration of blockchain technology, and growing popularity of digital payments.

Industry analysts suggest that Bitcoin prices could reach as high as $150,000 in 2025, reflecting the optimistic market sentiment following regulatory improvements. Wintermute's move to establish a physical presence in New York underscores this positive outlook for the US cryptocurrency market.

Broader Implications for Financial Industry

The entry of established market makers like Wintermute into the US market carries significant implications for the broader financial industry. Market makers provide essential liquidity to cryptocurrency markets, enabling smoother trading operations and potentially reducing volatility.

The increasing presence of institutional players is helping to bridge the gap between traditional finance and cryptocurrency markets. With clearer regulations and improved infrastructure, financial institutions are more comfortable participating in digital asset markets. According to Blockchain Council, "When banks and governments adopt crypto, it gains credibility. This makes it easier for everyday users to trust and use digital assets."

Meanwhile, progress continues on key cryptocurrency legislation. Industry participants are closely watching the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, which passed the House Financial Services Committee on April 2 and currently awaits scheduling for debate and a floor vote in the House of Representatives. Despite some legislative challenges, momentum toward regulatory clarity "remains active in both chambers," according to analysts.