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Use case

Fragmented or shallow liquidity for digital assets, which the firm positions itself as making markets liquid and efficie

These listings explicitly identify this outcome as something they help buyers achieve.

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Options with a documented fit

Wintermute

Institutional and sophisticated counterparties — financial institutions, crypto-native trading firms, brokers, exchanges and token issuers — seeking OTC digital-asset liquidity, derivatives structures or programmatic market access.

Wintermute advertises OTC trading with 'no fees or commission' and 'tightest spreads.' However, as an own-account market maker its revenue comes from the trading spread and mark-up, which are not publicly disclosed

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