News linked to both this project and an event.
market maker Wintermute released a weekly market analysis report stating that Bitcoin fell below $62,000 last week, with a weekly decline of approximately 14%, hitting a new low since September 2024. Wintermute believes that although Strategy founder Michael Saylor disclosed the sale of 32 BTC, drawing market attention, the scale of this transaction is negligible. The real reason for the market's weakness is the continuous reduction of positions by U.S. institutional investors and the outflow of funds from spot Bitcoin ETFs.Wintermute pointed out that the U.S. added 172,000 non-farm jobs in May, far exceeding the market expectation of approximately 80,000. Meanwhile, job openings rose to a near two-year high, and the service price index hit a new high since August 2022. Strong economic data has weakened market expectations for a Fed rate cut, pushing the 10-year Treasury yield to 4.55%, creating a "good news is bad news" macro environment that pressures risk assets.Meanwhile, the rally in AI concept stocks has shown signs of weakening, with the Nasdaq index falling 4.7% for the week and the S&P 500 recording its first weekly decline since March. Wintermute believes that the pullback in the AI sector, rising yields, and the upcoming SpaceX IPO have collectively dampened market risk appetite.In the crypto market, U.S. spot Bitcoin ETFs have experienced net outflows for 10 consecutive trading days as of May 30, with total outflows of approximately $2.97 billion. The net outflow in May reached $2.43 billion, marking the worst monthly performance since 2026. Wintermute OTC data shows that retail funds continue to flow into U.S. stocks, while U.S. institutional investors have recently turned bearish and are leading the selling.However, Wintermute believes there are also positive signals in the market, including long-term capital gradually building positions at current price levels. From a perspective of more than one year, Bitcoin's risk-reward ratio is becoming more attractive. The report stated that the SpaceX IPO on June 12 will serve as an important barometer for observing market risk appetite. If the issuance is smoothly absorbed, it could help boost market sentiment; conversely, it may exacerbate the pressure on risk assets.
as prediction market trading volume grows, institutional capital is entering this sector. Quantitative trading firms such as DRW, Wintermute, and IMC are forming dedicated prediction market trading teams, recently posting relevant job openings to focus on platforms like Polymarket and Kalshi. These teams aim to capture pricing deviation profits through cross-platform arbitrage, market microstructure arbitrage, and news-driven trading strategies. Industry insiders believe that as the prediction market expands and on-chain trading platforms like Hyperliquid plan to launch prediction market products, a competition centered on latency, liquidity, and cross-platform efficiency has already begun. (CoinDesk)
Solana ecosystem Perp DEX project BULK has announced the launch of its Season 1 points program. Pre-deposits are now open, with 1 million AURA (points) distributed weekly until the exchange officially goes live.Previously, BULK announced the completion of an $8 million seed funding round, led by 6th Man Ventures and Robot Ventures, with participation from Big Brain Holdings, Wintermute, and Solana co-founder Anatoly Yakovenko, among others.
Wintermute stated that it is expanding its institutional trading business to prediction markets. Wintermute will provide two-way market liquidity for event contracts on major venues to reduce spreads, support larger-scale trades, and improve the reliability of market-implied probabilities.Jake Ostrovskis, Head of OTC Trading at Wintermute, stated that prediction markets exhibit data characteristics similar to major asset classes, but liquidity remains in its early stages. Continuous two-way liquidity will not only narrow spreads but also support larger trading volumes, thereby improving the signals contained in market prices. (cointelegraph)
According to PR Newswire, the Open Transaction Layer (OTL) officially launched on May 28 as an open industry initiative aimed at establishing a unified transaction coordination standard for on-chain finance. OTL defines shared protocols among institutions, non-custodial wallets, and AI agents for identity verification, messaging, and transaction coordination—covering the entire transaction lifecycle, including discovery, compliance, and settlement. The founding alliance comprises over 25 members, including leading financial institutions, payment service providers, and blockchain foundations such as Fireblocks, Checkout.com, Cross River Bank, MetaMask, Robinhood, Securitize, Wintermute, Solana Foundation, and Polygon. OTL’s technical specifications are built upon mature standards including W3C Decentralized Identifiers (DIDs) and ISO 20022, and adopt a modular five-layer architecture covering Identity, Session, Transport, Messaging, and Application layers. The specifications have been published under an open-source license at otl.network, and the alliance is also open to additional institutional participation.
: Multiple institutions including Robinhood, MetaMask, and eToro, along with Fireblocks, Checkout.com, Cross River Bank, Securitize, Wintermute, and others, jointly announced their participation in the "Open Transaction Layer (OTL)" initiative, aimed at establishing a unified transaction coordination protocol layer for on-chain finance.OTL is positioned as an open protocol stack for coordinating identity verification, compliance validation, transaction messaging, and execution processes among wallets, institutions, and AI agents, addressing the integration fragmentation problem currently plaguing cross-institutional interactions in on-chain finance, where entities operate in silos.The current coalition members include payment companies, trading platforms, wallets, market makers, and custody and stablecoin infrastructure providers, including Robinhood, MetaMask, eToro, MoonPay, SoFi, Wintermute, among others, as well as foundations from multiple public chains such as TON, Solana, Stellar, and Polygon. (Financefeeds)
According to The Block, crypto market maker Wintermute has launched Armitage, a DeFi treasury curation platform offering non-custodial treasuries tailored to varying risk appetites to access decentralized lending opportunities. Wintermute stated that, leveraging its market-making operations and liquidation execution capabilities, Armitage can accept “collateral types unsupported by other curators.” The announcement notes that user deposits require no KYC, and users retain full control over their funds. As institutions continue to deploy treasury strategies on Ethereum-based Morpho, Solana-based Kamino, and others, treasuries are becoming a key tool for institutional participation in crypto markets.
Wintermute released its weekly market analysis, covering the week ending May 11. During this period, BTC broke above $80,000 for the first time since January, peaking near $83,000 and decisively crossing its 200-day moving average—a resistance level that had held for seven months. However, Wintermute noted that this rally was primarily leveraged-driven: open interest surged by $10 billion month-on-month to $58 billion, while spot trading volume hit a two-year low—classic hallmarks of a short squeeze rather than a healthy breakout. Funding rates remain skewed bearish, indicating further short-covering potential in the near term; yet covering shorts does not equate to genuine bullish consensus. Looking at medium- to long-term fundamentals, institutional buying logic remains intact: BTC ETFs posted $623 million in net inflows for the week; Morgan Stanley’s BTC ETF attracted $194 million in its first month with zero net outflows on any single day; and BTC reserves held on exchanges remain at a seven-year low. Nevertheless, Wintermute cautioned that the RSI has entered overbought territory, and if spot buying fails to materialize after the squeeze concludes, prices face significant risk of a rapid correction. On the macro front, the Nasdaq rose 4.5% and the S&P 500 gained 2.3% for the week—both hitting all-time highs. Nonfarm payrolls significantly exceeded expectations (115,000 vs. forecast 65,000). U.S.-Iran negotiations collapsed, with Iran demanding sovereignty recognition and reparations—terms rejected by Trump. Oil prices swung violently between $88 and $113 per barrel during the week, yet equity markets reacted indifferently. Key events to watch this week:
Wintermute’s weekly market report indicates Bitcoin recently broke through $80,000 and briefly touched around $83,000, while also reclaiming the 200-day moving average for the first time in seven months. However, this rally is clearly more driven by leveraged capital rather than spot buying.The report notes that over the past month, Bitcoin open interest increased by approximately $10 billion, while spot trading volume dropped to a two-year low, a classic short squeeze scenario. Although ETFs still recorded net inflows of $623 million and BTC reserves on exchanges fell to a seven-year low, the current RSI has entered overbought territory. If spot buying fails to sustain after the short squeeze ends, BTC prices could face a rapid correction risk.Wintermute also stated that the current crypto market rally is more driven by the strength of US equities and the resonance of leverage, rather than an independent bull market narrative. Upcoming US CPI data and changes in Federal Reserve policy expectations will be key factors in determining whether BTC can stably hold above $80,000.
According to Financialit, stablecoin financial services platform UnblockPay has announced the completion of a $4.5 million seed funding round, led by Prelude, with participation from Plug and Play, Wintermute, Reverie, Signature Ventures, Triaxis Capital, Crescera Capital, and a group of angel investors. The new capital will support the development of regulated financial products, enabling businesses to integrate stablecoins into their day-to-day financial operations and facilitating seamless conversions between fiat currencies and major stablecoins such as USDC and USDT for enterprise users.