Evgeny Gaevoy on market structure
From 做市商 Wintermute 创始人 Evgeny Gaevoy：BTC 现在是机构级优质资产，我不担心它会崩盘；周末的闪崩会延缓山寨季的到来。#以太坊 #索拉纳 #山寨季 #稳定币 #加密货币 · · 深潮TechFlow 小剧场
“What happened on October 10th was a combination: we have a lot more leverage, a lot more tokens to play with and a lot more perpetuals with big open interest — that created a big potential to go down.”
On , Evgeny Gaevoy, CEO & Founder at Wintermute Trading, spoke about market structure during 做市商 Wintermute 创始人 Evgeny Gaevoy：BTC 现在是机构级优质资产，我不担心它会崩盘；周末的闪崩会延缓山寨季的到来。#以太坊 #索拉纳 #山寨季 #稳定币 #加密货币 on 深潮TechFlow 小剧场.
About Evgeny Gaevoy
In a March 2026 fireside chat at Bitcoin Investor Week with Anthony Pompliano, Evgeny Gaevoy discussed Wintermute Trading's evolution from a small 2017 startup competing against Jump Trading and Alameda Research to a firm spanning centralized and decentralized exchange trading, OTC, and derivatives. He described the early years as "brutal" and said the company hit its stride in mid-2020. Gaevoy stated that Wintermute's advantage comes from being crypto-native while also drawing on traditional finance ("tradfi") knowledge, arguing that crypto can reinvent financial rails but that some crypto projects "keep reinventing the wheel" on concepts already established in traditional markets. Gaevoy reiterated his ambition to compete with traditional financial firms, saying "Yeah taking on Citadel and Jane and Jump and anyone else for that matter." When asked about the finish line for his goals, he said he hopes never to reach it, suggesting that being the "number one market capitalization company on planet Earth" would be a finish line but that he finds the prospect "depressing" and prefers to keep raising the goalposts. He also referenced that Wintermute's 2021 revenue figure was "more or less public" at "half a billion."