# Wintermute expansion into traditional finance > Live situation record from CLSTR: https://clstr.news/situations/wintermute-expansion-into-traditional-finance > Updated: 2026-08-12T01:00:32.000Z. Sources: 11. Developments: 2. Algorithmic trading firm Wintermute has initiated a strategic expansion into regulated U.S. markets. The firm’s affiliate, Wintermute USA LLC, registered as a broker-dealer with the SEC and FINRA, authorizing the company to trade traditional equities and equity options for its own account. This registration also allows the firm to act as an Authorized Participant for exchange-traded products and self-clear digital asset securities transactions. Following a significant decline in cryptocurrency spot trading volumes in July, Wintermute has reinforced its pivot toward traditional finance. The firm plans to invest approximately $1 billion over the next five years into high-frequency trading technology and AI data-center infrastructure. This strategy aims to increase non-crypto revenue to over 50% by the end of 2027, targeting equities, commodities, and foreign exchange markets. ## Timeline ### 2026-08-12: Crypto trading volumes fall as Wintermute pivots to traditional finance Crypto spot trading volumes fell 21.7% in July, with Binance holding a 45.8% market share. Meanwhile, Wintermute is investing $1 billion in AI and HFT infrastructure to expand into traditional finance. 2 sources. https://clstr.news/cluster/crypto-trading-volumes-fall-as-wintermute-pivots-to-traditional-finance ### 2026-08-06: Wintermute registers as U.S. broker-dealer to trade equities and ETFs Crypto market maker Wintermute has registered its U.S. affiliate, Wintermute USA LLC, as an SEC and FINRA broker-dealer to trade equities, options, and act as an authorized participant for ETFs. 10 sources. https://clstr.news/cluster/wintermute-usa-registers-as-broker-dealer-expands-into-us-regulated-markets --- Cite as: Wintermute expansion into traditional finance. CLSTR, https://clstr.news/situations/wintermute-expansion-into-traditional-finance