Overview
- Evgeny Gaevoy said Wintermute never planned to sue Binance and sees no reason to do so, reiterating the firm is operating normally.
- The speculation was pushed by a pseudonymous X account, which Gaevoy labeled a larp, and Changpeng Zhao amplified the denial by urging followers to ignore the rumor.
- The Oct. 10–11 selloff wiped out roughly $19–$20 billion in leveraged positions and triggered depegs and auto-deleveraging events across Binance.
- Binance issued about $283 million in refunds and announced a $400 million support effort that included $100 million in loans for institutions, with no confirmation that Wintermute received compensation.
- Gaevoy has described some of Wintermute’s liquidations as unusual, and on-chain data showed the firm moved roughly $700 million onto Binance shortly before the crash.