Wintermute, one of the top crypto market builders globally, paid its 36 British employees a total of $83 million in 2021, suggesting that the crypto firm gave birth to 36 new millionaires.
According to its recently filed annual report, Wintermute paid its 36 UK employees $83m in 2021, meaning the company had an average pay of $2.3m for each employee. Additionally, the crypto company paid a whopping $22.5 million to a director in the year.
The unprecedented payout came in a year when nearly all cryptocurrencies hit all-time highs. Amid rising cryptocurrency prices, Wintermute made $582 million in profit in 2021, as revenue increased from just $40.4 million in 2020 to $818.5 million.
Wintermute has become a leading global algorithmic market maker in the crypto space. The company has become an essential part of the crypto ecosystem, helping to create liquid and efficient markets on centralized and decentralized trading platforms.
The crypto market builder also helps facilitate the entry of traditional financial institutions and high-profile blockchain projects into crypto. So far, Wintermute has signed partnerships with more than 50 exchanges and trading platforms.
In 2021, Wintermute traded around $1.5 trillion in digital assets. The company currently manages hundreds of millions in assets and trades more than $5 billion a day. Before the crypto market crash in 2022, the creator of the crypto market was earning an average of $2.3 million each year, the filing revealed.
Wintermute's presidents and CEOs, including founder w, earned a total of $31 million in 2021. The highest-paid director earned $22.5 million for the year, up from $1.6 million the year before.
Gaevoy, with over 15 years of experience in the financial services industry, raised a small $2.8 million Series A venture funding round in July 2018 for the crypto market maker.
In the midst of the recent brutal market crisis, Wintermute has also seen a sharp drop in revenue. The company reportedly posted revenue of $225 million in the first nine months of 2022, Forbes reported.
As reported, Wintermute suffered a $160 million hack in September of last year as a result of human error that left one of its digital wallets exposed. At the time, the company executive stated that they had about $320 million in assets in the coffers and that they remained solvent.
Furthermore, the crypto market maker has about $59 million locked on FTX, once the third largest crypto exchange in the world that declared bankrupt at the end of last year.
