Wintermute Denies Plans to Sue Binance After Market Crash

Wintermute Shuts Down Rumors of Binance Lawsuit After Market Crash

Written by Aaron S.,

Editor-In-Chief

Last Updated: November 04, 2025

Key Takeaways

Evgeny Gaevoy confirmed that Wintermute has no plans to sue Binance and called the circulating rumors of a lawsuit false;
Speculation began after claims that Wintermute lost money in the October 10 market crash, though none were verified;
Changpeng Zhao urged users to trust official information as online rumors spread following Bitcoin’s sharp decline.

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Evgeny Gaevoy, head of the trading firm Wintermute, has clarified that the company has no intention of suing Binance $20.49B over the October 10 market crash.

He stated that such claims are not true and have never been part of Wintermute’s plans.

On November 3, Gaevoy stated on X that people who spread these rumors often forget quickly.

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His message appeared aimed at calming online speculation that had begun to circulate widely.

Wintermute operates as a liquidity provider on Binance. This means it helps maintain a steady market by ensuring there are always buy and sell options available.

Some X posts claimed that Wintermute had suffered losses during the October market downturn and was preparing to seek compensation.

An X user suggested that Binance and Wintermute had disagreed over the amount of money involved.

They also claimed that other trading firms might be planning lawsuits against Binance. However, none of these statements has been verified.

The crash occurred after US President Donald Trump announced tariffs, which triggered a decline in Bitcoin’s BTC $101,113.16 value from over $121,000 to below $103,000.

Former Binance CEO Changpeng Zhao responded to the situation by encouraging people to rely on verified information rather than online speculation.

Binance recently launched a $400 million program to assist users affected by the crypto market crash. How does the program work? Read the full story.