Wintermute pushes $131.62M onto exchanges but pulls back $107.64M, netting a $23.98M load

Wintermute sent $131.62M in deposits across 134 transfers while pulling $107.64M out across 226 withdrawals over the last 24 hours. The net flow of $-23975190 is the imbalance: more value moved toward exchanges than away, even though withdrawals outnumbered deposits by transaction count.

That gap between the two components is what makes the net number worth reading rather than flattening into a single direction.

The desk is loading inventory onto venues at a 226-withdrawal to 134-deposit imbalance, leaving a net $23.98M resting on exchange books.

The observed lean is loading, but the counterflow stays large enough that the net should be read as a placement, not a commitment. The next 24-hour window will show whether the deposit-withdraw imbalance holds or flattens.