The institutional digital assets market is no longer emerging — it’s arrived. And the firms that move now, with the right people, will define the next decade of how financial institutions interact with decentralised finance.

We are hiring a senior institutional sales professional to lead the commercial launch of a new digital assets product within an established, well-capitalised financial technology firm. This is the rare combination: the energy, autonomy, and upside of a start-up product launch — backed by the infrastructure, credibility, and client relationships of a firm with serious institutional pedigree.

If you’ve spent years bridging the gap between DeFi infrastructure and institutional buyers, and you’re ready to do it at scale with real backing behind you — this is the role.

Why this role is different

• Ground-floor commercial ownership of a new product in a firm with an existing institutional client base — you’re not starting from zero


• A compensation structure built for a top performer: $180k–$220k base with genuinely uncapped commission


• Direct access to executive leadership and the ability to shape product, positioning, and go-to-market strategy from day one


• An established firm’s brand and balance sheet behind a product that genuinely moves the needle for institutional clients


• The right moment: regulatory clarity is improving, institutional appetite is accelerating, and the market is ready

What you’ll own

• Lead institutional sales for a new DeFi and digital assets product across hedge funds, asset managers, prime brokers, family offices, and bank treasury desks


• Build and convert a pipeline of institutional prospects from first engagement through to signed commercial agreements


• Position the product in context of clients’ existing digital asset strategies — on-chain treasury, tokenised assets, DeFi yield, liquidity management, and custody


• Engage with Chief Investment Officers, Heads of Digital Assets, Crypto Trading Desks, and Treasury teams


• Navigate compliance, legal, and risk frameworks at regulated financial institutions


• Feed market intelligence back into product and strategy — your client conversations will shape the roadmap


• Represent the firm at key digital assets, DeFi, and institutional crypto events across New York and the broader US market


• Build and eventually scale a sales team as the product gains traction

What we need to see

• Deep, hands-on experience in DeFi — you understand the protocols, the infrastructure, and how institutional clients think about on-chain risk and opportunity


• Proven track record selling digital asset products, crypto infrastructure, or blockchain-based solutions into regulated financial institutions


• Existing network across institutional crypto and digital asset leadership in the US financial services market


• Ability to navigate both worlds fluently: DeFi-native conversations and compliance-driven buying processes of regulated institutions


• Experience with tokenised assets, on-chain treasury management, smart contract infrastructure, staking, or digital asset custody solutions


• Familiarity with the US digital assets regulatory landscape: SEC, CFTC, OCC guidance, and evolving state-level frameworks


• Based in New York or New Jersey, or willing to relocate

Strongly desirable

• Prior experience at a digital asset exchange, DeFi protocol, crypto prime broker, blockchain infrastructure firm, or digital asset custodian


• Understanding of layer-1 and layer-2 blockchain architecture and how it translates into institutional product design


• Experience navigating MiCA, DORA, or international digital asset regulatory frameworks


• Prior success launching a new product or entering a new market segment


• Active presence and credibility within the institutional crypto and Web3 community

The package

• Base salary $180,000–$220,000 depending on experience


• Uncapped OTE — commission structure designed to make top performers very well paid


• Full US benefits: health, dental, vision, 401(k) with matching


• Conference and travel budget across the US digital assets calendar


• Hybrid working from New York or New Jersey office


• Direct line to the founding product team and executive leadership

The institutional DeFi moment is now. The product is real. The backing is serious. What’s missing is the right person to take it to market. If that’s you apply directly and we will connect with you to discuss further.

Ethena Labs is actively building and deploying a suite of groundbreaking digital dollar products aiming to upgrade money into the internet era.

Our flagship product, USDe, is a synthetic dollar backed by digital assets, and takes the novel approach of using a delta-neutral hedged basis strategy to maintain its peg. This product scaled from zero to $15b in 18 months.

Expanding on this, iUSDe is designed specifically for traditional financial institutions, incorporating necessary compliance features to enable them to access the crypto-native rewards our protocol generates, in an institutional-friendly manner.

Ethena has also developed USDtb: a fiat backed GENIUS compliant stablecoin in partnership with BlackRock which has scaled to ~$2b.

These products are also offered in a whitelabel stablecoin offering where any application, chain, wallet or exchange can launch their own stablecoin on Ethena’s back-end infrastructure.

Through these offerings, Ethena Labs is not just creating new financial products; we are building the foundational infrastructure for a more open, efficient, and interconnected global financial system.

Open job offerings will be focused on two new major product lines coming to market in the next few months.

Join us!

The Role

The Senior Loan Originator will sit within the team that manages the backing assets of USDe. This role blends traditional financial market expertise with deep proficiency in secured lending digital asset markets.

The successful candidate will focus on originating overcollateralised stablecoin loans backed exclusively by tier one digital assets & RWAs. Reporting to the Head of Trading, you will drive outperformance by originating new & incremental business by building new relationships and expanding existing relationships.

What You’ll Do

• Lead the effort to originate loans with new counterparties, meeting strategic goals to scale the total loan book that positively impacts and complements the needs of the Ethena protocol.


• Serve as the primary owner for Ethena’s secured lending relationships, acting as a trusted advisor to capital allocators and institutional counterparties.


• Champion within the trading team the potential to grow the secured lending allocation of the backing assets of USDe.


• Create new & exciting secured loan structures with Ethena’s many partners, from exchanges, to custodians, to brokerages, to trading firms, that fit the risk profile of the protocol to create unique product outcomes.

What We’re Looking For

• Seasoned experience in credit risk, counterparty risk, or financial markets risk analysis.


• Secured lending background, most recently in digital assets issuing/originating loans with market makers/crypto-native trading firms, prime brokerage, securities financing, or leveraged institutional clients.


• A strong understanding of the secured lending market in the digital asset space at the institutional, CeFi, and DeFi levels.


• Proven ability to negotiate lending agreement terms and close complex deals in rapid succession with diverse counterparties.


• Strong financial and quantitative analytical skills to evaluate collateral frameworks and portfolio exposures to communicate credit views, and progress updates clearly to risk teams, investment teams, and high-net-worth stakeholders.* Comfort working in a high-trust, flat hierarchy that values asynchronous communication and independent creativity.

Why Ethena Labs?

• You’d be joining a group that has well established itself as one of the most successful crypto-native company’s of all time, a group with a mission to revolutionise decentralised finance and it’s position in global finance.


• Work alongside a passionate and innovative team that values collaboration and creativity.


• Enjoy a flexible, remote-friendly work environment with established opportunities for personal growth and learning.


• If you subscribe to the mission of separating the dollar from the state, then we want to hear from you!


• We look forward to receiving your application and will be in touch after having a chance to review.

In the meantime, here are some links to more information about Ethena Labs to help you check us out:

• Website


• Twitter/X


• LinkedIn

Wintermute is one of the largest algorithmic trading companies in digital assets. We provide liquidity algorithmically across all major cryptocurrency exchanges and trading platforms, a broad range of OTC trading solutions as well as support high profile blockchain projects and traditional financial institutions moving into crypto. Wintermute is not just a trading company, it is one the most prominent and influential players in the digital asset markets: we are connected and partnering with all major players in the industry, we actively participate in the development of the blockchain ecosystem through investments, partnerships, and incubation of projects. You can read more here.

Working at Wintermute

Wintermute is a global company with offices in London and Singapore. It opened its US office in early 2025 and it is set to grow significantly over the next several years. It’s a unique opportunity to play a role in the early rapid expansion of Wintermute Americas.

Business Development at Wintermute

We are looking for a Business Development & Partnerships Director in New York to support and continue our ambitious expansion in the region. We are looking for someone who knows the US financial services markets both from a traditional finance and digital assets perspective. You will be responsible for building new as well as growing Wintermute’s existing businesses globally.

You will own opportunities in the region from end to end and develop your own strategic growth plan, while also getting advice and guidance from the team. We have the best liquidity products in the market, we work with many of the most prominent blockchain projects, we have many strategic growth opportunities in the pipeline, and a long line of counterparties wanting to develop relationships with us. We have no legacy processes, no corporate bureaucracy, no multiple levels of approvals, yet the highest standards of professionalism.

Responsibilities:

• Grow institutional OTC business globally - this includes developing and executing your own growth plan in the region where you will be responsible for.


• Work closely with other teams to bring new products (e.g. new derivatives products) to the market, this includes collecting customer feedback, testing products, launch plans, etc


• Grow the crypto project Liquidity provision business - deepen and build relationships with high profile projects in the region, as well as local VCs and other important ecosystem players


• Growth partner relationships with important partners such as exchanges, custodians, lenders and other infrastructure providers


• Execute a structured business development process and work with the teams to further improve operational efficiency (e.g. CRM, effectiveness of campaigns, etc)


• Keep track of key launches and news in the crypto eco-system and proactively identify cooperation and business development opportunities

Hard Skills Requirements:

• Experience in both traditional financial and digital assets services from high performing teams.


• 3+ years of FICC sales experience (voice or electronic), working with institutional clients


• eCommerce experience would also be advantageous.


• Experience with spot and derivatives OTC products, especially options is required.


• Experience in business development, partnerships or any client-facing role (B2B sales, investment banking, etc)


• Experience delivering business results - be ready to talk about numbers/quota achievement, etc


• Excellent communication skills, both verbal and written; the role is more around providing education to counterparties about our services rather than a standard sales pitch. Therefore it’s important to come across convincing, concise, precise and a good listener whilst also being clear on the next steps as well as ensuring timely follow ups.


• Trading knowledge or crypto knowledge - is a strong advantage; willingness, aptitude and curiosity to understand the fundamentals of blockchain technologies, algorithmic trading and Liquidity provision is crucial


• BSc/MSc in Business/Economics/Finance or any related degree

Here is why you should join our dynamic team:

• Opportunity to work at the world’s leading algorithmic trading firm in digital assets.


• Engaging projects offering accelerated responsibilities and ownership growth compared to traditional finance environments.


• A vibrant working culture with team events, celebrations and company wide team building events.


• A cool office in the heart of New York City which often hosts some of the leading industry events


• Great company culture: informal, non-hierarchical, ambitious, highly professional yet with a startup vibe, collaborative and entrepreneurial.


• A performance-based compensation with a significant earning upside alongside standard perks like private medical insurance

Note

• Please ensure you are eligible to work in the US, at the moment Wintermute USA is unfortunately not able to sponsor US visas; if visa is a consideration for you, feel free to apply to the UK or Singapore offices where we offer visas and potential longer term reallocation to the US.

We are a digital-asset trading firm specialising in OTC derivatives, structured products, and liquidity solutions. Our core business is pricing and trading vanilla and exotic options on tokens that have no listed options market — serving token projects, funds, miners, and institutional counterparties who need bespoke risk management. All quoting and hedging is algorithmic and automated, and we compete directly with other well known crypto trading firms.

The Role

We are looking for a Senior Quantitative Options Trader to own the pricing, risk management, and ongoing improvement of our OTC options book. You will be the firm’s primary decision-maker on how we competitively quote covered calls, cash-secured puts, and other structured payoffs to clients — and you will directly oversee the automated trading systems that warehouse and hedge the resulting positions. This is not a seat where you watch screens and click. You will write and refine the models, build the tools, and set the parameters that drive every quote and every hedge. You will need deep fluency in options theory, practical experience pricing vol in illiquid or novel underlyings, and strong programming ability.

What You Will Do

Pricing & Quoting

• Design, calibrate, and continuously improve the quantitative models used to price options on tokens with no listed options market — including implied-vol surface construction, and tail-risk adjustments specific to crypto.


• Set competitive two-way pricing for covered calls, cash-secured puts, collars, and bespoke structures for OTC clients (token treasuries, funds, miners).


• Own the spread, skew, and term-structure assumptions embedded in every client quote — balancing competitiveness against risk appetite.

Risk Management & Hedging

• Oversee the firm’s aggregate options book — monitor Greeks (delta, gamma, vega, theta, rho) in real time and ensure automated hedging is performing within defined tolerances.


• Define and tune hedging strategies for illiquid underlyings: dynamic delta hedging, cross-asset proxy hedging, and inventory management across spot and perpetual-futures venues.


• Stress-test the portfolio against liquidity dry-ups, and extreme vol regimes; propose and implement risk limits.

Technology & Automation

• Write production-quality code (Python, Rust, or C++) that powers quoting engines, hedging algorithms, and risk dashboards.


• Collaborate with engineering to improve execution infrastructure — smart order routing, latency optimisation, and exchange connectivity.


• Build monitoring, alerting, and analytics tools to track PnL attribution, fill quality, and model performance.

Strategy & Growth

• Identify new products and structures to offer clients — e.g., barrier options, variance swaps, accumulator/decumulator notes — and develop pricing and hedging frameworks for them.


• Contribute to commercial discussions with large counterparties; translate complex risk into clear, client-friendly language.


• Monitor the competitive landscape (pricing, spreads, product range) and ensure the firm’s offering stays best-in-class.

What You Bring

Required

• 7+ years of experience in options trading, market-making, or quantitative trading — ideally on a volatility or exotic-options desk (crypto, FX, equities, or commodities).


• Deep understanding of options pricing theory: Black-Scholes, local/stochastic vol models (Heston, SABR), Monte Carlo methods, and Greeks sensitivity analysis.


• Practical experience pricing vol in illiquid or OTC markets where you cannot simply read an exchange screen — you have built vol surfaces from sparse data, dealer quotes, or proxy relationships.


• Strong programming skills in Python (minimum) with production-level code quality; bonus for Rust, C++, or similar systems languages.


• Hands-on experience with automated or algorithmic trading systems — you have written or meaningfully contributed to quoting engines, hedgers, or execution algos.


• Solid grasp of crypto market microstructure: CEX/DEX venue dynamics, perpetual-futures funding mechanics, basis trading, and on-chain settlement considerations.


• Rigorous quantitative background: degree in mathematics, physics, computer science, financial engineering, or a related quantitative discipline.

Preferred

• Prior experience at a crypto OTC desk, market-making firm, or prop trading firm active in digital assets.


• Track record structuring and hedging exotic or path-dependent options.


• Familiarity with DeFi protocols relevant to hedging or liquidity (on-chain options protocols, AMMs, lending markets).


• Experience with Rust or low-latency systems development.


• Existing relationships or reputation in the institutional crypto trading ecosystem.

What We Offer

• Direct P&L ownership with a transparent and competitive compensation structure tied to desk performance.


• Significant influence over technology and product roadmap — this is a small, high-trust team, not a bureaucracy.


• Access to cutting-edge trading infrastructure and proprietary data.


• Flexible working arrangement (remote-friendly with periodic in-person collaboration).


• Opportunity to shape a rapidly growing business at the intersection of quantitative finance and digital assets.