Wintermute, a Crypto Platform, Seeks to Raise $300 Million in Funding
Wintermute, a crypto platform based in the United Kingdom, has begun discussions with investors to raise capital. These discussions could lead to the formation of a fund worth $300 million.
According to Bloomberg and The Information, among the interested investors is Chinese media giant Tencent. If the discussions prove successful, Wintermute could be valued at $2 billion.
Wintermute Accelerates Crypto Ventures
Wintermute provides liquidity to over 50 crypto exchanges and trading platforms. The company, which has facilitated approximately $5 trillion in cumulative transactions, has experienced significant growth in the past two years.
Known as a major crypto investor, Wintermute has previously invested in the crypto exchange Backpack and the Ethereum scaling platform Taiko.
In 2021, the crypto company raised $20 million in a Series B funding round.
Tencent: A Potential Investor in the Cryptocurrency Market
One of the most prominent potential investors in the cryptocurrency market is Tencent. Tencent, the developer of China’s number one social media platform WeChat, has also shown interest in video games.
Tencent has previously collaborated with the TON Foundation and Telegram. The Chinese giant has also invested in the crypto project Immutable. With its strides in the crypto space, Tencent has caught the attention of many and could take on a more prominent role in the crypto world with its Wintermute fund.
Reports suggest that Wintermute may venture to acquire the derivative exchange dYdX. Despite the turbulent times in the cryptocurrency market, the number of initiatives in the sector continues to rise. Market makers and investment firms, in particular, are increasingly getting involved in the crypto space.
