Wintermute CEO Denies Binance Lawsuit Rumors After “Crypto Black Friday”
Wintermute CEO Evgeny Gaevoy denied rumors that the firm planned to sue Binance following the October 10 market crash.Summary
Evgeny Gaevoy, founder and CEO of Wintermute, publicly refuted circulating online speculation that his cryptocurrency market-making firm intended to sue Binance over alleged losses sustained during the severe market crash on October 10, dubbed "Crypto Black Friday." Gaevoy stated on X that Wintermute never planned legal action against Binance and sees no reason to do so in the future, dismissing the rumors as baseless. These rumors stemmed from viral threads alleging Wintermute suffered hundreds of millions in damages due to Binance's systems freezing during the liquidation wave, potentially involving Binance's auto-deleveraging (ADL) mechanism. The crash, which wiped out over $19.5 billion in leveraged positions, was triggered by US President Donald Trump's announcement of 100% tariffs on Chinese imports, and Binance faced backlash for platform failures like frozen accounts. In response to the broader crisis, Binance announced a $400 million "Together Initiative" to compensate users.
(Source：BeInCrypto)