"Statement from Wintermute CEO regarding Binance."

The cryptocurrency market experienced a significant crash on October 10, causing serious panic among investors. During this process, a series of leveraged positions worth over $20 billion were liquidated. There was particular curiosity about whether major market makers would be negatively affected by this drop.

In this context, Wintermute CEO Evgeny Gaevoy firmly denied allegations that the company would sue the Binance exchange. In response to rumors circulating on social media platforms, Gaevoy stated, "Nothing has changed since this tweet, we have never had plans to sue Binance, nor will we in the future."

Gaevoy pointed out that the crash in October occurred at a time when leveraged trades had reached record levels. An X user claimed that Wintermute was affected by Binance's Auto-Deleveraging (ADL) mechanism and sought compensation for losses. However, Gaevoy called this claim "complete nonsense." The CEO noted that some liquidations occurred at "completely irrational prices."

Meanwhile, after the incident, Binance created a total compensation fund of $400 million following price breaks in assets like USDe, BNSOL, and WBETH. Of this fund, $100 million was set aside as low-interest loans for institutional users to re-provide liquidity. It remains uncertain whether Wintermute has benefited from this compensation program.

It is known that Wintermute transferred about $700 million to Binance before the crash and subsequently withdrew a similar amount. This situation stands out as a significant point of attention for investors.