Join Wintermute CEO Evgeny Gaevoy as he shares his insights on the future of crypto trading, discussing market trends, AI’s role in trading, and addressing liquidity fragmentation.
Evgeny Gaevoy, founder and CEO of Wintermute, an algorithmic trading firm, shares his insights on the future of crypto trading. With over $5 billion in daily trading volume and deep liquidity to 50+ trading venues across centralized and decentralized exchanges, Wintermute is a key player in the industry.
Gaevoy began his career in traditional finance, specializing in market making and prop trading. ‘However, he soon realized that legacy financial systems were inefficient and ripe for disruption.’ In 2016, Gaevoy started exploring blockchain technology and its potential for disintermediation. By 2017, he had quit his job and launched Wintermute to create a market-making business tailored for the digital asset era.
Gaevoy has extensive experience in both Western and Asian markets. He notes that regulatory frameworks are primarily driven by the U.S., with many Asian companies following suit. However, he highlights Japan’s improved tax policies as a significant move towards institutional adoption. South Korea’s massive retail market is another exciting development, but foreign market makers are still restricted from integrating with local exchanges.
Gaevoy believes that AI will continue to play a crucial role in trading and market making. ‘However, he doesn’t think it will replace human traders entirely.’ Wintermute uses AI where it makes sense, but there’s still a lot of human decision-making involved, especially when it comes to market dynamics that AI doesn’t fully understand yet.
Artificial intelligence (AI) is increasingly being used in trading to analyze vast amounts of data and make informed decisions.
AI algorithms can identify patterns and trends in financial markets, enabling traders to predict price movements and make profitable trades.
According to a report by MarketsandMarkets, the global AI in trading market is expected to grow from $1.3 billion in 2020 to $13.9 billion by 2025.
This growth is driven by the increasing adoption of AI-powered trading platforms and the need for more efficient and effective trading strategies.
Wintermute approaches the challenge of liquidity becoming increasingly fragmented across different blockchains by facilitating and promoting diversity in blockchains, centralized exchanges, and decentralized exchanges. Gaevoy sees fragmentation as an opportunity rather than a problem, allowing Wintermute to position itself as a leading provider of liquidity.
Gaevoy is excited to discuss market structure and the role of market makers in crypto at Consensus Hong Kong. He aims to dispel misconceptions about market makers and provide a clearer understanding of how the market functions. With his unique perspective on the industry, Gaevoy is poised to share valuable insights with attendees.
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Wintermute’s core strategy is to facilitate diversity across blockchains, centralized exchanges, and decentralized exchanges.
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AI will continue to play a crucial role in trading and market making, but human traders will still be essential.
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Liquidity fragmentation creates opportunities for firms like Wintermute to position themselves as leading providers of liquidity.
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Gaevoy aims to dispel misconceptions about market makers and provide a clearer understanding of how the market functions.
