Unchained The Chopping Block: How Wintermute Avoids ‘Zombie’ Exchanges, Base’s Early Success, Bank Fraud in the AI Era - Ep. 532
Aug 17, 2023
Evgeny Gaevoy, CEO of Wintermute Trading, shares his expertise as a leading crypto market maker. He discusses strategies for navigating quiet crypto markets and highlights the dangers of 'zombie' exchanges. The conversation dives into Base’s rapid success and its implications for DeFi. They also explore how biometrics can secure crypto wallets and the looming threat of bank fraud in the AI era. Insights on the evolving landscape of trading firms and the parallels between friends.tech and BitClout add depth to this engaging discussion.
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Slow Crypto Market
- The current crypto market is experiencing its slowest period in three to four years, similar to 2019.
- This has led to a rise in short-attention-span projects and frequent new scams due to boredom.
Wintermute's Growth and Mistakes
- Wintermute, despite raising only $29 million, has grown to over $450 million in equity in three years.
- They've made mistakes, particularly with their DeFi infrastructure, but owned them, learned, and improved their systems.
Zombie Exchanges
- Evgeny Gaevoy expressed concern about several "zombie" exchanges in the current market.
- He avoids trading on these platforms due to suspicions about their solvency but declines to name them publicly.