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Company

Wintermute

Wintermute is a major cryptocurrency market maker providing liquidity and trading infrastructure across digital asset exchanges and DeFi protocols.

Current stories

investOne report1 publisher

Crypto super PACs commit $33 million to beating Sherrod Brown, who was out of office for the Clarity vote

Fairshake and the Winklevoss-backed Digital Freedom Fund have put $33 million into Ohio against Sherrod Brown three weeks before the election. The target lets the industry settle a 2024 score while leaving alone the Democratic senators a market-structure bill would need next year.

Reality

Evidence60
Adoption
Not scored
Hype gap+5
Incentives70
Confidence62
investOne report1 publisher

A $283 million short tops Hyperliquid's ether book in the token's best September since 2016

Ether rose 9.76% in the past month, heading for its best September since 2016 against an 8.57% average September loss. Leveraged longs on Hyperliquid pay funding to hold the gain, while the treasury-firm evidence is mostly coins already held.

Reality

Evidence35
Adoption45
Hype gap+25
Incentives
Not scored
Confidence35
investOne report1 publisher

Ethena pays to retire the seed tokens its early backers were already selling

The Foundation bought out the locked allocations of seed investors who had shown they would sell, released everyone else's early, and proposes routing 95% of net revenue into buybacks. That trade rests on a revenue figure the Foundation has not published.

Reality

Evidence30
Adoption54
Hype gap+40
Incentives74
Confidence34
investOne report1 publisher

Five curators, $11.29B: the vault market where diversifying buys the same risk twice

vaults.fyi puts curated DeFi at $11.29 billion with five teams on 69.3% and Morpho carrying 46.2%. DefiLlama counts a different $7.18 billion and finds the same concentration.

Reality

Evidence48
Adoption71
Hype gap+18
Incentives74
Confidence54
investOne report1 publisher

Pendle rented $50M of lender depth on Morpho, and the price is in the emissions schedule

A vault that reached $50M in ten days did not discover demand for PT-backed leverage. It bought the supply side, and its own growth is already halving the yield that pulled the money in.

Reality

Evidence34
Adoption58
Hype gap+34
Incentives71
Confidence44