Wintermute in Fundraising Talks with Tencent for up to $300 Million, Eyeing $2 Billion Valuation

IconCryptoNewsTerminal Staff19 Jul, 2024

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Wintermute in Fundraising Talks with Tencent for up to $300 Million, Eyeing $2 Billion Valuation

Wintermute, a leading crypto market maker, is reportedly in talks to raise $200 million to $300 million in funding, potentially valuing the company at around $2 billion. According to Bloomberg sources, the funding round could include participation from Chinese tech giant Tencent. If successful, this would be one of the most significant fundraisings in the cryptocurrency industry this year. Wintermute has established itself as a major player in the crypto markets, serving as a market maker on platforms like Binance, Bybit, and Coinbase. Additionally, the firm has facilitated trades worth over $5 trillion and participated in over 100 venture capital investments. Wintermute and Tencent have declined to comment on the matter. Earlier reports from The Information suggested that Wintermute planned to raise $100 million through a primary share issuance, though these details are subject to change.

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