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Wintermute: 'Avoid These Trading Mistakes!' Secrets of a Market Maker - Yoann Turpin

Episode Summary

We were joined by Yoann Turpin, co-founder of Wintermute, to discuss the ever-changing trading landscape, the skills needed to succeed, and how a top-level market making firm operates.

Episode Notes

Market makers help create more efficient markets and liquid order books, by positioning themselves on the receiving end of a trade that other market participants are unwilling to fill. Quantitative analysis is crucial in determining their position and size. Wintermute defines itself as a tech-first company that also became one of the largest spot market making firms in Web3. From angel investing in Web2, to market making in Web3, Yoann Turpin (co-founder of Wintermute) has a vast experience in both tech products & financial markets. He shares what differentiates good traders and how he approaches investing, trading and market making.

Topics covered in this episode:

• Yoann’s background and his interest in trading
• The ever-changing trading landscape
• Wintermute’s genesis
• Trading vs. Investing vs. Market Making
• What defines a good trader
• On-chain trading vs. CEX trading
• How Wintermute succeeded
• Wintermute culture
• rsync blockbuilder
• Longterm predictions
• AI impact
• Misc. Learning new languages

Episode links:

• Yoann Turpin on Twitter
• Wintermute on Twitter

Sponsors:

• Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io
• Chorus1: Chorus1 is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one

This episode is hosted by Brian Fabian Crain.