“Never Had Plans to Sue Binance,” Wintermute CEO Evgeny Gaevoy Confirms

Wintermute CEO Evgeny Gaevoy on Tuesday denied rumors that the market maker plans to sue Binance exchange for last month’s largest-ever crypto market crash. Binance founder CZ also reacted to FUD surrounding the rumors dragging down crypto prices.

Wintermute CEO Evgeny Gaevoy Refutes Rumors of Suing Binance

Evgeny Gaevoy, CEO of Wintermute, has denied any plans to sue Binance and slammed people for spreading “baseless rumors.” Gaevoy confirmed that the market maker sees no reason to file a lawsuit against Binance and will not do it in the future.

Wintermute CEO also refuted claims of coordinating legal action with other market makers against Binance for the October 10 crypto market crash. The crypto market has failed to recover completely from the crash, with Bitcoin price falling to $105K amid the latest selloffs by whales and long-term holders.

“I should probably ask to make a note of all the people spreading baseless rumors, but most of the people believing these have goldfish memory capacity, so I wont,” he added.

CZ Cools the FUD, Responds to Gaevoy

As CoinGape reported earlier, the crypto community primarily blamed Binance, Wintermute, and US President Donald Trump for the massive crash. A flaw in Binance’s Unified Account margin system caused USDe, wBETH, and BNSOL to depeg, triggering massive liquidations, including those of major market makers.

Notably, Wintermute deposited over $700 million in Binance hot wallet before the crash. The market maker founder itself at the center of growing controversy amid allegations of market manipulation again.

X user named WhalePump Reborn spread rumors that Wintermute signed an NDA with Binance seeking compensation and threatening to sue the crypto exchange. Wintermute CEO responded to WhalePump Reborn and denied plans to sue or any negotiation with the crypto exchange.

CZ pointed out lots of FUD in the crypto market currently. He added, “People are in pain, jittery, and anxious. Whales are pouncing on it, spreading more FUD, and cashing in on it.” He urges people to learn to verify and check with official sources.