Money is broken. Finance is trapped in analog bureaucracy while the rest of the world runs on code. M0 rewires finance at its core with permissionless stablecoins, putting programmable money into builders’ hands. This is financial infrastructure for creators, not extractors.
.@wintermute_t is best known for its market maker -- but it also has one of the largest venture arms with 100+ investments
@Jonaskristensen, head of @wmt_ventures, came on @_TalkingTokens to share how he spots high-conviction founders, why stablecoins are the hottest sector right now, and how institutional appetite is shaping the space.
Whether it’s DeFi, stablecoins, or new rails like tokenized equities, Jonas explains what’s real, what’s noise, and how Wintermute plans to keep deploying — in bull and bear markets alike.
TIMESTAMPS
0:00 – Intro
0:46 – Who is Jonas Kristensen & how Wintermute Ventures operates
1:46 – Why Wintermute focuses on infrastructure and trades off its own balance sheet
2:34 – State of crypto VC in 2025: active, early-stage heavy, regulation turning
4:03 – Stablecoin builders from the bear market are now winning
5:44 – How U.S. elections + Robinhood’s token push reshaped the market
7:24 – What VCs look for in early-stage crypto founders today
8:30 – Circle IPO, public demand, and stablecoin market exposure
10:25 – Three real PMF products: stablecoins, perp trading, Bitcoin
11:31 – Going mainstream: ETFs, neobanks, and new distribution rails
16:03 – Prediction markets: untapped trading frontier with big potential