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.
