Cryptocurrency market maker Wintermute has raised $20 million in a Series B funding round to expand into new businesses and geographies.
The round was backed by Pantera Capital, Fidelity's Avon Ventures, and Sino Global Capital, among others. Existing investors Blockchain.com Ventures and Lightspeed Venture Partners also participated in the round.
In a note to The Block, Wintermute said that it is "highly profitable," but needed the fresh injection of capital to beef up its balance sheet to woo larger counter-parties to its over-the-counter
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