Algorithmic trading firm Wintermute has established its U.S. headquarters in New York City and appointed Ron Hammond, former Senior Director at the Blockchain Association, as Head of Policy and Advocacy, the company announced today (Thursday)

Wintermute Establishes New York Headquarters

Wintermute's expansion into the U.S. market comes as the firm cites improved regulatory conditions for digital assets as a factor in its timing.

“As the U.S. policy towards digital assets and blockchain innovation has become friendlier, we were determined to act fast and establish roots in the financial capital of the world,” said Wintermute CEO Evgeny Gaevoy in a statement.

Gaevoy refers to the more pro-cryptocurrency approach of the current administration under Donald Trump: both the SEC and CFTC, after years of strict crackdowns, are now viewing the digital asset market much more leniently.

The New York office will serve as the cornerstone of Wintermute's U.S. operations, allowing the firm to develop closer relationships with American counterparties and partners. The company, which reports an average daily trading volume exceeding $15 billion, provides liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term across more than 60 centralized and decentralized exchanges.

“We’re eager to continue our growth and play an integral role in the U.S. market. As a neutral player with deep expertise in all areas of digital assets, we believe we are well-positioned to lend our expertise on Capitol Hill, which we have done recently in our meeting with the SEC Crypto Task Force,” Gaevoy added.

Hammond Hire Brings Capitol Hill Experience

Hammond brings nearly a decade of regulatory experience to his new role, having previously served as the Senior Director of Government Relations and Institutional Engagement at the Blockchain Association since July 2020. His background includes positions at Ripple and as Financial Services Policy Lead for Congressman Warren Davidson of Ohio, where he began working on cryptocurrency legislation in 2016.

“With the regulatory climate in the U.S. becoming more constructive, we see tremendous opportunity to foster responsible innovation and deepen engagement with policymakers and industry stakeholders,” Hammond said. “I’m eager to work alongside the Wintermute team as it forges a new path in America.”

In his new position, Hammond will lead Wintermute's policy engagement in the United States, working with regulators and industry stakeholders at both federal and state levels. His responsibilities will include providing technical input on legislation, contributing policy ideas, and coordinating responses to emerging proposals.

Building on Recent Growth

The U.S. expansion follows a period of significant growth for Wintermute. In January, the company reported a 313% year-over-year increase in over-the-counter (OTC) trading volumes for 2024, substantially outpacing the broader crypto exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term market's 142% growth. The firm reached a milestone in November 2024 when its single-day OTC spot volume hit $2.24 billion.

Wintermute has also been expanding its institutional partnerships. In December 2024, the company began providing 24/7 OTC trading support for BlackRock's USD Institutional Digital Liquidity Fund. A month earlier, it completed its first Request for Quote trade on Finery Markets' institutional crypto trading platform, establishing a hybrid trading model for institutional clients.

The firm is currently expanding its U.S. team beyond Hammond's appointment, with ongoing hiring across business development, partnerships, and other functions.