Wintermute Founder Evgeny Gaevoy might launch a crypto exchange to cater to professional traders after FTX\u2019s collapse in November left a void in the financial derivatives market, Forbes reported. <\/p>\n\n\n\n
FTX rose to prominence partly due to Sam Bankman-Fried positioning the platform as a derivates exchange \u201cbuilt for traders by traders\u2019. The angle propelled FTX towards crypto stardom, growing into one of the largest crypto trading venues with billions in transactions before SBF filed for Chapter 11 bankruptcy on November 11.\u00a0<\/p>\n\n\n\n
Gaevoy’s Derivatives Exchange Plans<\/h2>\n\n\n\n
Gaevoy along with Wintermute CEO Marina Gurevich pointed to the intensified workload following FTX\u2019s crash as the company moves to capture market share and fill the boots of Sam Bankman-Fried\u2019s exchanges. <\/p>\n\n\n\n
Gaevoy shared<\/a> thoughts on running a financial derivatives exchange with standard financial controls and risk management. According to FTX bankruptcy CEO John Ray, the crypto exchange imploded<\/a> largely due to a lack of risk management and corporate accounting practices,<\/p>\n\n\n\n Founder Gaevoy proposed segregating customer funds from company liquidity as part of an improved system for storing user deposits. Regarding asset custody, the veteran crypto trader said he would adopt a trading architecture similar to traditional financial exchanges. <\/p>\n\n\n\n This means Gaevoy is a proponent of leveraging outside entities and third-party service providers to custody assets, as opposed to dedicating resources towards building in-house crypto asset custody solutions. Gaevoy disclosed his company\u2019s approach to the current market conditions as well. <\/p>\n\n\n\n We\u2019re basically preparing for the next 2021 at the moment. We don\u2019t necessarily care about making the most now because it\u2019ll be just a tiny fraction of the bull markets that can come.<\/p><\/blockquote>\n\n\n\n The crypto market maker was appointed to the FTX Unsecured Creditors Committee by the bankruptcy court. Indeed, the judge named Winter, Genesis-backed entity GGC, and seven others to the committee. <\/p>\n","protected":false},"excerpt":{"rendered":" Wintermute’s founder plans to launch a derivatives exchanges to capture professional trading volume after FTX’s crash.<\/p>\n","protected":false},"author":55,"featured_media":580240,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,2],"tags":[7135,108795,7704,108709],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/580237"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=580237"}],"version-history":[{"count":4,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/580237\/revisions"}],"predecessor-version":[{"id":580245,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/580237\/revisions\/580245"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/580240"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=580237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=580237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=580237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/12\/Crypto-Market-Maker-Wintermute-Mulls-Launching-Derivatives-Exchange-After-FTX-Collapse-1-1024x588.jpg\" "\\"\\"")
Wintermute Granted Seat On FTX Creditors Committee<\/h2>\n\n\n\n