Wintermute Establishes U.S. Headquarters in New York, Appoints Head of Policy and Advocacy

Algorithmic trading firm Wintermute has established its U.S. headquarters in New York City and announced the appointment of Ron Hammond as Head of Policy and Advocacy. The company made the announcement on Thursday, May 15, 2025.

Wintermute stated that its expansion into the U.S. market is timed with what the firm cites as improved regulatory conditions for digital assets. Wintermute CEO and Co-Founder Evgeny Gaevoy commented in a statement, "As the U.S. policy towards digital assets and blockchain innovation has become friendlier, we were determined to act fast and establish roots in the financial capital of the world." Mr. Gaevoy referenced the current administration's "more pro-cryptocurrency approach" and indicated that both the SEC and CFTC, after years of stricter actions, are now viewing the digital asset market "much more leniently."

The New York office is expected to serve as the cornerstone of Wintermute's U.S. operations, enabling the firm to develop closer relationships with American counterparties and partners. Wintermute reports an average daily trading volume exceeding $15 billion and provides liquidity across more than 60 centralized and decentralized exchanges. Mr. Gaevoy added, "We're eager to continue our growth and play an integral role in the U.S. market. As a neutral player with deep expertise in all areas of digital assets, we believe we are well-positioned to lend our expertise on Capitol Hill, which we have done recently in our meeting with the SEC Crypto Task Force."

Ron Hammond brings nearly a decade of regulatory experience to his new role. He previously served as the Senior Director of Government Relations and Institutional Engagement at the Blockchain Association since July 2020. His background also includes positions at Ripple and as Financial Services Policy Lead for Congressman Warren Davidson of Ohio, where he began working on cryptocurrency legislation in 2016. Mr. Hammond commented, "With the regulatory climate in the U.S. becoming more constructive, we see tremendous opportunity to foster responsible innovation and deepen engagement with policymakers and industry stakeholders." He added, "I'm eager to work alongside the Wintermute team as it forges a new path in America." In his new position, Mr. Hammond will lead Wintermute's policy engagement in the United States, working with regulators and industry stakeholders at both the federal and state levels. His responsibilities will include providing technical input on legislation, contributing policy ideas, and coordinating responses to emerging proposals.

The U.S. expansion follows a period of reported significant growth for Wintermute. In January, the company stated a 313% year-over-year increase in over-the-counter (OTC) trading volumes for 2024, which it noted substantially outpaced the broader crypto exchange market's 142% growth. The firm reached a milestone in November 2024 when its single-day OTC spot volume reportedly hit $2.24 billion. Wintermute has also been expanding its institutional partnerships, including providing 24/7 OTC trading support for BlackRock's USD Institutional Digital Liquidity Fund in December 2024 and completing its first Request for Quote trade on Finery Markets' institutional crypto trading platform a month earlier, establishing what it described as a hybrid trading model for institutional clients. The firm is currently expanding its U.S. team beyond Mr. Hammond's appointment, with ongoing hiring in business development, partnerships, and other functions.