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Wintermute, a leading global crypto market maker, has paid its 36 British employees a total of $83 million in 2021, suggesting the crypto company has given birth to 36 new millionaires.
According to its newly filed annual report, Wintermute have paid Its 36 UK staff were worth $83 million in 2021, meaning the firm had an average payout of $2.3 million per employee. Furthermore, the crypto company paid $22.5 million to a director in the year.
The unprecedented payout comes in a year when nearly all cryptocurrencies hit all-time highs. Amidst a surge in crypto prices, Wintermute projects a $582 million profit in 2021 as revenue rises from just $40.4 million to $818.5 million in 2020.
Wintermute has emerged as a leading global algorithmic market maker in the crypto space. The company has become an essential part of the crypto ecosystem as it helps create liquid and efficient markets on both centralized and decentralized trading platforms.
Crypto Market Maker also helps facilitate the entry of traditional financial institutions and high-profile blockchain projects into crypto. So far, Wintermute has partnered with over 50 exchanges and trading platforms.
In 2021, Wintermute envisions trading around $1.5 trillion in digital assets. The company currently manages hundreds of millions of assets and trades over $5 billion per day. Before the crypto market crash in 2022, crypto market makers made an average of $2.3m every year, the filing revealed.
Wintermute’s presidents and executive directors, including founder W, earned a total of $31 million in 2021. The highest-paid director received $22.5 million for the year, up $1.6 million from the year before.
Gaevoy, with over 15 years of experience in the financial services industry, raised a modest $2.8 million of Series A venture funding in July 2018 for the crypto market maker.
In the midst of the recent brutal market downturn, Wintermute has also seen its revenue drop drastically. Forbes reports revenue of $225 million in first nine months of 2022 Reported,
As reported, Wintermute suffered a $160 million hack last September that resulted from human error, leaving one of its digital wallets exposed. At the time, company executives said they had about $320 million worth of assets left in the treasury, and remained solvent.
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