YEREVAN (CoinChapter.com) — In keeping with experiences from Bloomberg and The Info, Chinese language social media large Tencent is among the many buyers keen on Wintermute, a distinguished algorithmic crypto buying and selling agency. Wintermute is reportedly in discussions to boost between $100 million to $300 million. Sources point out that the funding spherical might elevate Wintermute’s valuation to roughly $2 billion.
Wintermute supplies liquidity to over 50 cryptocurrency exchanges and buying and selling platforms. The agency has facilitated about $5 trillion in cumulative buying and selling, doubling this determine over the previous two years. In January 2021, Wintermute raised $20 million in a Sequence B spherical led by Lightspeed.
Which additionally led a $2.8 million spherical in July 2020.
Tencent Expands Crypto Presence with Strategic Investments
Tencent’s involvement in these talks marks a big transfer for the corporate. Tencent is greatest recognized for creating the WeChat messaging app and publishing a spread of video video games. As gaming revenues decline, Tencent has diversified into synthetic intelligence and now seems to be increasing its footprint within the crypto sector.
Since September 2023, Tencent has collaborated with the TON Basis and Telegram on mini apps via its Tencent Cloud subsidiary. In March, it signed a Memorandum of Understanding with the Ras Al Khaimah Digital Asset Oasis financial free zone to determine a coaching heart and foster crypto entrepreneurship. This potential funding in Wintermute aligns with Tencent’s broader technique of integrating into the digital belongings area.
Tencent has additionally made important investments in different areas of the crypto market. It has invested in non-fungible token scaling resolution Immutable and was a significant investor within the now-defunct Australian blockchain logistics firm Everledger. Tencent’s partnership with Everledger and Russian diamond producer Alrosa in 2019 for a diamond retailing e-commerce challenge reveals its willingness to discover numerous crypto functions.
A Key Participant in Crypto Investments and Trading
Wintermute isn’t solely a liquidity supplier but additionally an lively investor within the crypto ecosystem. This 12 months, it has invested in a number of tasks, together with the Analog cross-chain communications software, the Backpack crypto trade, and Ethereum scaling resolution Taiko. Moreover, Wintermute has proven curiosity within the Agora digital greenback and the M^0 stablecoin issuance platform.
The corporate can be reportedly eyeing the acquisition of the dYdX derivatives buying and selling software program. Wintermute’s position in facilitating substantial buying and selling volumes and its lively funding in varied crypto tasks spotlight its affect within the trade.