Unchained Bits + Bips: The Most Dangerous Type of Asset to Trade on Weekends
Feb 1, 2026
Evgeny Gaevoy, founder and CEO of Wintermute and veteran liquidity provider across CEX, DeFi and OTC markets. He discusses where retail attention is moving next. Topics include tokenized equities and weekend risks, prediction markets and insider-information concerns, shifts toward commodities and tokenized gold, and how market makers pick tokens based on volume and due diligence.
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Market Making Is Multi‑Modal
- Wintermute combines prop trading, DeFi liquidity and OTC to dominate crypto market making.
- Evgeny Gaevoy says being connected to every meaningful liquidity pool is their operating motto.
Pure Market Making Is Dead
- Modern market making mixes many strategies rather than pure quoting.
- Evgeny says successful market making needs signals to exit during volatility and re-enter when confident.
Meme Coin Mania Diluted Retail Capital
- Retail shifted from venture-backed alts to millions of meme coins for early-entry illusions.
- That dilution led to severe crashes and a flight to quality into BTC, ETH and stablecoins.