🇪🇺 Crypto Weekly Updates #9: Wintermute Trading

Skew, Clearmatics, Telegram, IOTA, Tezos, ICAP, France, Token, ex-Circle etc...

Hej Everyone,

This is the #9 issue of my European crypto newsletter aiming to give updates on corporates, startups and regulation in 🇪🇺

Everyone is talking about San Francisco as the epicentre of everything in crypto. Well, I wanted to shed lights on Europe and show how exciting the ecosystem is.

Note, if you are looking to hire, share news or want to sponsor a newsletter please email me at cryptojobseu@gmail.com

  • If you are an algo / quant / market-maker tinkering with crypto. Don’t hesitate to contact me!

Merci,

Etienne ( You can always contact me at: Twitter, ebrunet40@gmail.com)

PS: Are there any of my readers based in NYC, SF, Berlin or Amsterdam? if so contact me.


🙈Who’s behind this?

This section aims to give the opportunity to introduce some of the best 🇪🇺 founders. Most people loves their products but don’t know who are the founders behind them. Hello World.

Wintermute Trading

Background: Most people are unaware that there are more than traders and crypto funds. Moreover, the term market maker includes makers specialize in OTC, dark pools, and execution services but also HFT operating as proprietary trading company and leveraging their algorithms and business models. Wintermute is the latest. They are based in London and have quickly becoming one of the top HFT. 

How did you get into the bitcoin and blockchain industry?

Having spent 10+ years in capital markets and financial services, I’ve seen many inefficiencies and “dead weight” in the industry. I could say that while I was tirelessly working to make markets more efficient, I secretly hoped that one day I would take it to the next level and focus on disrupting traditional finance. I played with the idea of alternative exchanges, asset cases and disintermediation before I learned about crypto.

At some point in 2015 I discovered crypto. I looked at the exchanges and exchange volumes at the time and decided that the volumes were too small to make any meaningful money. I’ve missed my chance to belong to that elite group of LinkedIn visionaries as I didn’t buy bitcoin. At that time, I was building a new business at Optiver and doing my executive MBA at LBS, deciding to focus on that and come back to crypto later. In the beginning of 2017, I dug out my notes and started Wintermute together with Harro feeling that the time was right.

CONTINUE TO READ THE INTERVIEW ON MEDIUM

 💵 Job of the week

Ps: if you apply and you found this job here. Please share it to Emmanuel and Tim. Brownie points for you ;) You can also email me if you want more info on the company. I interviewed them few weeks ago…

🐦 Tweet of the week

(Click to show the Tweetstorm)

🤹 Startups

  • Telegram published the lite client for the Telegram Open Network (TON). More in-depth analysis from a developer can be seen Here. It will be very interesting to see the development of TON in regards of Cosmos and Polkadot…

  • By exploring Libra’s capabilities, and using Move IR (the intermediary representative layer, they successfully managed to implement an initial version of eToro tokenized assets on the Libra Network [Source]

  • Non-profit blockchain organization IOTA Foundation has teamed up with digital food safety management firm Primority to track food allergens via blockchain [Source]

  • French engineering group, OcamlPro, is pursuing a Tezos fork after the token's managing foundation threatened to stop funding them over governance concerns, according to a blog post by the Tezos Commons Foundation. [Source]

🏭Corporates

  • TP ICAP (UK) enters crypto market with Bitcoin Futures. The interdealer broker plans on adding non-deliverable forwards and opening desks in the US and Asia. This means more investors able to buy/sell CME Crypto Futures and confirms that most of the flow is in Asia [Source]

  • Marieke Flament, who formerly worked as the European managing director of Circle, will reportedly join RBS as CEO of Mettle, its digital service for small and medium-sized enterprises [Source]

🏦Regulations / Universities

  • Roger Karlsson is thought to have a run an investment scheme that raked in $11m in stolen funds. The Swede directed his clients to ‘invest’ using bitcoin. Karlsson was probably hoping those transactions would be anonymous and make it impossible to track him down. Well he was wrong. [Source]

  • France is creating a G7 task force to study how central banks ensure cryptocurrencies like Facebook’s Libra are governed by regulations ranging from money-laundering laws to consumer-protection rules, France’s central bank governor said on Friday. This is one example of how digit currency can have an impact on sovereign nation. If companies start to bypass national currencies… pretty big deal! [Source]

  • A representative of the Russian Ministry of Finance (MinFin) says the ministry is considering allowing cryptocurrency trading. Over the past months, Russia has show sign of interest to dabble into crypto, first with the idea to launch a stablecoin and now trading. The big question will be in 10 days when they unveil their crypto bill “On Digital Financial Assets” (DFA) [Source]

💰Fundings

  • Token Secures $16.5m from Opera Tech Ventures and Additional Strategic Investors (EQT Ventures, Octopus) as Open Banking Set to Transform Payments Industry. Apart from the data platform, Token has developed an eponymous cryptocurrency, Token X, which they claim is the first stablecoin designed for “instant payment execution.” It runs on Stellar and Ethereum, but is designed to be ledger agnostic. [Source]