<\/p>\n
Wintermute has secured a Bitcoin-backed credit line from Cantor Fitzgerald as part of Cantor\u2019s $2 billion Bitcoin Financing Business initiative.<\/p>\n
Crypto market maker\u00a0Wintermute\u00a0has secured<\/a> a Bitcoin-backed credit line from investment bank\u00a0Cantor Fitzgerald. The size of Wintermute\u2019s facility was not disclosed, but CEO Evgeny Gaevoy said it would help the firm manage the capital-intensive nature of OTC crypto trading and settlement.<\/p>\n \u201cGiven the capital-intensive nature of our operations, especially OTC trading, the facility enhances our ability to hedge risks effectively across exchanges and maintain broad market coverage,\u201d<\/em>\u00a0Gaevoy said<\/a> in an email.<\/p>\n<\/blockquote>\n The deal is part of Cantor Fitzgerald\u2019s newly launched\u00a0$2 billion Bitcoin Financing Business, which aims to offer secured credit facilities to institutional crypto firms. Launched in mid-2024, the program has already provided financing to\u00a0FalconX Ltd. \u2014 which plans to draw over $100 million \u2014 and\u00a0Maple Finance, which closed the first tranche of its facility earlier this year, according to Bloomberg<\/a>.<\/p>\n <\/p>\n Cantor\u2019s entry into crypto lending signals a cautious revival of an industry rocked by high-profile collapses such as Celsius Network and BlockFi in 2022. Bitcoin (BTC) software company Blockstream Corp. recently raised<\/a> several billion dollars to support its crypto lending funds, while crypto-focused private bank Xapo Bank started offering Bitcoin-backed loans of up to $1 million as of March.<\/p>\n\n