The Impact Of The Wintermute Hack Could Have Been Worse Than 3AC, Voyager, And Celsius - Here's Why
Market makers are the backbone of every crypto exchange, ICO, DApp and many token listings, which is exactly why investors should not ignore Wintermute hack.
Market analysis
Most crypto investors probably never heard of Wintermute Trading before the $160 million hack on September 20, but that doesn't diminish their importance within the cryptocurrency ecosystem. The London-based algorithmic trading and crypto lending company also provides liquidity to some of the biggest exchanges and blockchain projects.
As a crypto-native trading company, meaning digital assets have been at the core of its business since its inception in July 2017, Wintermute's industry expertise is evidenced by $25 million in funding. dollars from global venture capitalists such as Fidelity Investments, Pantera Capital and Blockchain Entreprises.com.
Lending and venture capital firms have limited impact on day-to-day operationsAn important distinction distinguishes a market maker from bankrupt crypto venture capital firms like 3 Arrows Capital or insolvent lending and yield platforms like Voyager Digital and Celsius Network. The $160M Wintermute hack could have a much deeper impact on the crypto industry, given the importance of liquidity.
The very nature of these companies is very different. For example, a venture capitalist typically invests in pre-seed or seed capital by financing projects before they are launched. There is a need for early-stage funding for tokens, non-fungible token projects (NFTs), decentralized applications (DApps), and infr...
Market makers are the backbone of every crypto exchange, ICO, DApp and many token listings, which is exactly why investors should not ignore Wintermute hack.
Market analysis
Most crypto investors probably never heard of Wintermute Trading before the $160 million hack on September 20, but that doesn't diminish their importance within the cryptocurrency ecosystem. The London-based algorithmic trading and crypto lending company also provides liquidity to some of the biggest exchanges and blockchain projects.
As a crypto-native trading company, meaning digital assets have been at the core of its business since its inception in July 2017, Wintermute's industry expertise is evidenced by $25 million in funding. dollars from global venture capitalists such as Fidelity Investments, Pantera Capital and Blockchain Entreprises.com.
Lending and venture capital firms have limited impact on day-to-day operationsAn important distinction distinguishes a market maker from bankrupt crypto venture capital firms like 3 Arrows Capital or insolvent lending and yield platforms like Voyager Digital and Celsius Network. The $160M Wintermute hack could have a much deeper impact on the crypto industry, given the importance of liquidity.
The very nature of these companies is very different. For example, a venture capitalist typically invests in pre-seed or seed capital by financing projects before they are launched. There is a need for early-stage funding for tokens, non-fungible token projects (NFTs), decentralized applications (DApps), and infr...
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