Wintermute will reportedly invest $1 billion in AI infrastructure and high-frequency trading as part of its expansion into traditional financing.
Crypto market maker Wintermute plans to invest up to $1 billion in artificial intelligence (AI) data center infrastructure and high-frequency trading over the next five years.
The plan includes scaling Wintermute’s non-crypto market activity to more than 50% of its business by the end of 2027, from the current 10%, Wintermute CEO Evgeny Gaevoy to say Bloomberg.
As part of the plan, Wintermute will double the staff at its 17-person New York office next year and expand its global headcount by about 40%, Wednesday’s report said. Cointelegraph reached out to Wintermute for more details surrounding its expansion plans.
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