Wintermute Plans $1B Investment in AI and Trading Systems

Wintermute, a prominent London-based cryptocurrency market maker, is planning a major strategic shift, committing approximately $1 billion over the next five years to build artificial intelligence data centers and high-frequency trading systems. The move marks a significant expansion into traditional financial markets, with the company's CEO stating the goal is to generate more than half of its revenue from non-crypto assets by the end of 2027.

Chief Executive Evgeny Gaevoy revealed the investment plan in an interview with Bloomberg. He explained that traditional financial markets currently account for about 10% of Wintermute's overall revenue, and the firm aims to push that figure beyond 50% by late 2027. The investment will be funded through the company's accumulated profits.

This pivot comes as cryptocurrency market activity has weakened. Wintermute's average daily trading volume has fallen to approximately $10 billion in 2026, down from $15 billion in 2025. Bitcoin prices have also retreated to roughly half of their October high, which exceeded $126,000. Despite the market downturn, the company maintained profitability in 2025 and expects to continue doing so this year....