Wintermute Opens New York Office Amid Improved US Crypto Regulatory Environment
Wintermute, a leading London-based algorithmic cryptocurrency trading and market-making firm, has announced the opening of a new office in New York, marking a strategic expansion into the US market. The move is driven by the increasingly clear and welcoming regulatory environment for digital assets in the US.
Wintermute CEO Evgeny Gaevoy said: “We are excited to expand our operations in the US and look forward to playing a pivotal role in shaping the digital asset market there.”
New Leadership and Policy Commitment
In conjunction with the expansion, Wintermute has appointed Ron Hammond as Director of Policy and Advocacy. With over a decade of experience on Capitol Hill, Hammond served as Senior Director of Government Relations at the Blockchain Association and authored the Token Taxonomy Act of 2021 – one of the first legislative initiatives to receive bipartisan support in the US Congress.
Wintermute said it will actively engage in technical input and policy development through its work with the SEC’s Cryptocurrency Task Force, and is committed to supporting the development of a sustainable regulatory framework for the industry.
Crypto Companies Entering the US Market
Wintermute is not alone. 2025 saw a wave of major crypto companies returning to or expanding their presence in the US, including Binance.US, eToro, OKX, Nexo, Circle, Crypto.com, and a16z. According to Bloomberg, these businesses are increasingly confident in the improving regulatory environment in the world’s largest economy.
The Trump administration’s proactive stance has contributed to this trend. The January 2025 executive order identified cryptocurrencies as a “national priority,” emphasizing support for the responsible development of blockchain technology and digital assets across all economic sectors.
New York: From Barriers to Opportunities
Despite criticism for its strict BitLicense program enacted in 2015, New York is gradually reshaping its image. In 2025, the state has made positive legislative moves:
February 2025: Establishment of the Blockchain and Cryptocurrency Task Force under Bill S4728 to assess the economic impact of cryptocurrencies.
April 2025: Introduction of Bill A7788 to allow state agencies to accept payments in Bitcoin and Ethereum.
Wintermute said it will support the state in developing the appropriate regulatory framework, while encouraging active participation of the institutional community in the digital asset space.
Crypto Market 2025: Explosive Growth
According to a report from Security.org, the proportion of American adults owning cryptocurrencies reached 28% in 2025, equivalent to 65 million people – nearly double the number three years earlier.
A forecast from Globe Newswire shows that the global cryptocurrency market size could reach $5 billion by 2030, driven by:
Demand for decentralized finance (DeFi) systems
Integration of blockchain into financial infrastructure
The popularity of digital payments globally
Bitcoin prices are also on a strong recovery path. Analysts predict that the price could reach $150,000 by the end of 2025, reflecting positive expectations from both retail and institutional investors.
Implications for Traditional Finance
The emergence of Wintermute – an institutional market maker – in the US is a notable turning point. Companies like Wintermute play an important role in providing liquidity, helping markets operate efficiently and reducing price volatility.
In addition, the participation of large financial institutions will help bridge the gap between traditional finance and digital assets. According to the Blockchain Council, "When banks and governments adopt cryptocurrencies, it not only increases legitimacy but also encourages mainstream users to participate in the market."
Towards a More Stable Regulatory Environment
US lawmakers are considering the STABLE (Stablecoin Transparency and Accountability for a Better Ledger Economy) Act – a landmark stablecoin bill that passed the House Financial Services Committee in early April. Despite many legislative challenges, analysts say that the process of perfecting the legal framework is proceeding synchronously in both the House and Senate.
Reference Resources: Global Bitcoin Policy Index (GBPI)
To better understand the regulatory environment around the world, readers can refer to the Global Bitcoin Policy Index (GBPI) – a tool to evaluate and compare each country’s policies towards cryptocurrencies. This document helps investors and businesses determine which jurisdictions are the most friendly and potential for future cryptocurrency activities.