Wintermute Boss Denies Plans To Sue Binance Over The Oct. 10 Crash

Market maker Wintermute has shot down rumors suggesting it plans to sue Binance in relation to a flash crash last month, when Bitcoin fell 15.2% to below $103,000.

Wintermute CEO Evgeny Gaevoy has refuted rumors that his market maker platform plans to sue Binance over losses incurred from the Oct. 10 market crash, which wiped out around $20 billion in leveraged positions across the market.

“We never had plans to sue Binance, nor see any reason to do it in future,” Gaevoy posted to X Monday, adding: “I should probably ask to make a note of all the people spreading baseless rumors, but most of people believing these have goldfish memory capacity, so I wont.”

Wintermute is an independent trading firm that provides liquidity on Binance’s platform, helping stabilize prices and improve market efficiency.

It has been claimed that Wintermute’s liquidity was affected by a failure in Binance’s auto-deleveraging risk mechanism during the Oct. 10 crash, which saw Bitcoin fall from $121,560 to below $103,000 after US President Donald Trump’s tariff announcement.

One X user, WhalePump Reborn, claimed that Wintermute was preparing a lawsuit seeking to be reimbursed for those unconfirmed losses, adding that: “Binance completely disagrees with the amounts Wintermute is asking for.”

It prompted Gaevoy to call them out, responding: “What a larp, all complete bullshit.”

WhalePump Reborn claims that several other crypto trading platforms are preparing to sue Binance; however, that claim also appears to lack merit.

Former Binance CEO Changpeng Zhao weighed in on the matter — telling his 10.4 million X followers to always verify with “official sources.”

Several crypto influencers were seen spreading the rumors, which amplified the fear, uncertainty, and doubt (FUD) coming from WhalePump Reborn and a few other X accounts.

Source: CoinTelegraph