Wintermute denied lawsuit rumors about Binance after the Oct. 10 crash. Wintermute CEO Evgeny Gaevoy wrote on X: “We never had plans to sue Binance, nor see any reason to do it in future.” He addressed the posts and rejected the claim.
The lawsuit rumors followed online claims of losses tied to the Oct. 10 crash in Bitcoin. Those posts connected Wintermute to compensation demands. Gaevoy called the story “complete bullshit” in reply.
Wintermute acts as a liquidity provider on Binance. The firm supplies quotes that support trading. The denial from Evgeny Gaevoy is the only on-record company position on the matter.
Oct. 10 Crash in Bitcoin: Price and Liquidations
On Oct. 10, Bitcoin fell 15.2%, sliding from $121,560 to below $103,000. The move came after U.S. President Donald Trump announced tariffs. Price action accelerated as order books moved quickly.
Around $20 billion in leveraged positions were liquidated during the drop. The liquidations hit longs most. Volatility increased as the market repriced.
At the start of this week, the crypto market fell 3% to $3.65 trillion. Nearly $1.3 billion in leveraged positions were liquidated in 24 hours. Analysts tracked older Bitcoin wallets selling while price stayed above $100,000.
Claims About Binance ADL, Wintermute Flows, and $700 Million Transfer
Some posts pointed to auto-deleveraging (ADL) on Binance during the Oct. 10 crash. They claimed a risk mechanism failure affected liquidity providers, including Wintermute. The posts suggested ADL did not offset risk as designed.
Another focus was wallet activity tied to Wintermute. Trackers flagged a $700 million transfer to a Binance hot wallet hours before the fall. The timing drew attention across Bitcoin discussions and leverage threads.
Wintermute did not confirm any losses from ADL or the $700 million transfer. The firm’s public stance remains Evgeny Gaevoy’s message denying any plan to sue Binance. No filing or complaint has been made public.
WhalePump Reborn Posts, Lawsuit Rumors, and CZ on “Official Sources”
An X account named WhalePump Reborn claimed Wintermute was preparing a lawsuit. The same claim said Binance disputed the “amounts.” It also alleged that other trading firms were considering action.
Evgeny Gaevoy replied to the post. He wrote: “What a larp, all complete bullshit.” The response addressed the lawsuit rumors and closed the point. The thread focused on Wintermute, Binance, and the Oct. 10 crash.
Former Binance CEO Changpeng Zhao (CZ) told his 10.4 million followers to verify with official sources. Several influencers repeated the lawsuit rumors. The reminders from CZ arrived as the crypto market processed the 3% drop and $1.3 billion in liquidations.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: November 4, 2025 • 🕓 Last updated: November 4, 2025
