Wintermute founder: Maintain long positions in the long term, but the long positions do not exceed 25% of net assets.

On October 20, Wintermute founder Evgeny Gaevoy stated during a podcast with The Block that the outside world generally misunderstands the company's “frequent shorting,” but in reality, Wintermute has maintained a net long position for a long time, having been bullish on the market overall since 2022 or even earlier. Gaevoy revealed that Wintermute has a venture capital department that invests in multiple projects and holds a large amount of lock-up Tokens, while also holding core assets such as BTC, ETH, HYPE, and SOL. He emphasized that the company cannot actively engage in dumping, as it would harm its own holdings' value. In terms of Risk Management, Wintermute has set strict limits: long positions cannot exceed 25% of net assets, and the proportion of funds on a single platform cannot exceed 35%. Gaevoy stated that this strategy has allowed the company to successfully weather the FTX collapse and multiple hacker attacks, saying: “Unless the top five trading platforms disappear simultaneously, we can survive.”