The crypto world was set ablaze with rumors this week โ whispers that market maker Wintermute was planning to sue Binance over the massive October 10 flash crash, when Bitcoin suddenly plunged 15% to below $103,000, wiping out over $20 billion in leveraged positions.
But Wintermuteโs CEO, Evgeny Gaevoy, has made it crystal clear โ those rumors are completely false. โWe never had plans to sue Binance, nor see any reason to do it in future, Gaevoy posted on X (formerly Twitter).
โWhat a larp โ all complete bullshit.โ
Wintermute, one of Binanceโs top liquidity providers, was rumored to have suffered losses during a brief malfunction in Binanceโs auto-deleveraging risk mechanism, triggered after Donald Trumpโs tariff announcement sent Bitcoin tumbling from $121,560 to under $103,000.
The source of the rumor?
An X user named @WhalePumpReborn, who claimed Wintermute was seeking compensation from Binance and even suggested โother trading firmsโ were preparing lawsuits too.
That post spread fast โ and so did the FUD (fear, uncertainty, and doubt).
Even former Binance CEO Changpeng Zhao (CZ) had to step in, reminding his 10.4 million followers:
โAlways verify with official sources.โ
Despite Gaevoyโs denial, some users accused Wintermute of triggering the crash itself, after blockchain data showed it transferred over $700 million to a Binance hot wallet just hours before the plunge.
Meanwhile, the crypto market slipped 3% to $3.65 trillion on Monday, with nearly $1.3 billion in leveraged positions liquidated in just 24 hours โ adding fuel to an already tense market.
Analysts say Bitcoin OG whales are continuing to sell, even with BTC holding above the $100K mark.
For now, the verdict is simple:
๐ซ No lawsuit.
๐ง Just rumors.
๐ธ And another reminder that in crypto, one viral tweet can move billions.
$BNB #EvgenyGaevoy #CZ #CryptoRumor s
#BTC $BNB $BTC