Official press releases from Wintermute, financial news outlets such as Bloomberg Crypto

Wintermute in Talks with Tencent to Raise $100M in Shares at $2B Valuation, Total Deal $200M-$300M

Jul 19, 2024, 11:58 AM

Wintermute, a leading cryptocurrency trading firm, is in discussions to raise capital through a new funding round. The company plans to sell $100 million in shares and issue additional new shares. The fundraising efforts involve investors including Chinese tech giant Tencent, with the company seeking a valuation of approximately $2 billion. If successful, the deal with Tencent is expected to enhance Wintermute’s expansion into Asia. Wintermute has solidified its position as the largest crypto market maker on Robinhood, particularly after the retreat of several competitors following the FTX collapse. The total transaction size for the funding round is projected to be between $200 million and $300 million. Bloomberg Crypto reports that Wintermute last raised $20 million in a Series B round.