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In the wake of the recent crypto market resurgence, Bybit and Wintermute, key players in the industry, have expressed optimism about the future of options trading.
As the market rebounds from recent challenges, the collaboration between these two entities stands out, providing a unique perspective on the evolving dynamics of the crypto space.
Bybit OTC pilot program
Bybit, which is celebrating its 5th anniversary, has achieved significant milestones, surpassing 20 million users and launching its Web3 vision.
After the FTX collapse, Bybit’s institutional preference for BTC and ETH remains strong. Despite the crowded crypto exchange landscape, seasoned liquidity providers are scarce, making market leaders like Wintermute crucial.
Bybit’s collaboration with Wintermute, initiated in July 2021, has weathered market turbulence, emphasizing the importance of liquidity providers in maintaining market vibrancy.
Ben Zhou, Bybit’s CEO, foresees a flourishing professional options trading landscape in the coming year. Eugene Cheung, Bybit’s Head of Institution, reveals the initiation of an OTC pilot program, marking a significant step in expanding collaborative efforts. As Bybit positions itself for growth, the emphasis on options and OTC trading signifies a strategic move in navigating the volatile crypto landscape.
Wintermute’s crypto options optimism
Wintermute, a liquidity provider giant, recently made a strategic move to Singapore, reinforcing its position in the liquidity provision domain. Completing its first options block trade on CME, Wintermute Asia showcases a commitment to innovation and growth.
Yoann Turpin, Co-founder of Wintermute and a former TradFi options trader, expresses optimism about the future of crypto options trading.
Collaborating closely with Bybit, Wintermute prioritizes the quality of projects, tokens, and team reputations over sales and business development efforts by centralized exchanges (CEXs). Wintermute finds Bybit’s solid and stable back-end technology platform impressive. Bybit’s early adoption of a Unified Trading Account (UTA) for customers has proven essential for global traders.
As both Bybit and Wintermute strategically position themselves for the future, Eugene’s revelation about the OTC pilot program adds a layer of depth to their collaboration. The synergy between the two entities remains strong, emphasizing the significance of collaboration in navigating the ever-changing crypto landscape.
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