🤑 Crypto Gossip: Wintermute CEO Scoffs at Binance Lawsuit Whispers! 🌪️

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In a turn of events most delightful to the discerning observer, Evgeny Gaevoy, the esteemed founder and CEO of the cryptocurrency market-making firm Wintermute, has most emphatically quashed the whispers and tittle-tattle suggesting his establishment might engage in legal hostilities with Binance. This, following the most calamitous market tumble on October 10, a day henceforth known as “Crypto Black Friday.”

The said debacle, a veritable tempest in the digital teacup, saw fortunes vanish like mist before the sun, with many a finger pointed at Binance, whose systems, it is rumored, froze as if caught in the first frost of winter. 🥶

Wintermute’s Patron Clears the Air with a Wave of His Quill

In a missive posted upon the platform X (formerly known as Twitter, a name now as quaint as a gigot sleeve), Mr. Gaevoy assured the world that Wintermute harbors no such litigious intentions towards Binance, nor does it foresee any cause to do so in the days to come.

“We never had plans to sue Binance, nor see any reason to do it in the future. I should probably ask to make a note of all the people spreading baseless rumors, but most of these individuals possess the memory of a goldfish, so I shan’t trouble myself,” the CEO penned with a wink and a flourish. 😏

He directed his readers to a previous epistle dated October 11, wherein he had already soothed the nerves of the community, declaring that Wintermute remained unshaken by the market’s tumult and continued its operations with the steadiness of a well-bred lady at a ball.

These denials arrived amidst a flurry of viral threads, as wild and unsubstantiated as a novel by Mrs. Radcliffe, claiming Wintermute had suffered grievously at the hands of Binance’s auto-deleveraging (ADL) mechanism, to the tune of hundreds of millions.

For the edification of the uninitiated, ADL is a contrivance employed in leveraged trading to manage risk, a sort of financial parasol to shield against the downpour of market volatility. When the tempest rages and depletes the exchange’s insurance fund, ADL steps in, closing or reducing profitable positions to balance the losses from liquidated accounts, thus preserving the stability of the platform.

“Wintermute is suing Binance. And they are not the only ones that got rekt. They lost hundreds of millions. I have all the names of who is about to blow up. It’s not going to be pretty. Unless CZ finds a way for compensation, this is going to be bad,” proclaimed WhalePump Reborn, a name as dramatic as it is mysterious. 🦈💨

Mr. Gaevoy, however, dismissed these claims as “all complete bullshit,” a phrase as blunt as a country squire’s manners. In a follow-up, WhalePump Reborn alleged that Binance had already compensated Wintermute, though the details were as murky as a London fog.

“I have seen the agreements. Allegedly. I have spoken to people involved. Allegedly. Binance bought Wintermute’s silence. Allegedly. Meanwhile, retail investors, as you correctly pointed out, are eating sh*t. Wintermute can still play the arbitration card, as stipulated in the contract with Binance. And if anything like this happens, it will all be decided behind closed doors. I saw the DMs, even though Evgeny has already started cleaning up. Allegedly,” the post continued, as convoluted as a Gothic plot. 🕵️♂️

The crash, dubbed “Crypto Black Friday,” wiped out over $19.5 billion in leveraged positions, a sum so vast it could fund a dozen seasons at Bath. The catalyst, as reported by BeInCrypto, was the announcement by US President Donald Trump of 100% tariffs on Chinese imports, a declaration as shocking as an unexpected proposal.

At the heart of the storm were Binance’s technical failures, with users reporting frozen accounts, halted stop-losses, and other calamities. In response to the outcry, Binance unveiled a $400 million “Together Initiative” to compensate users, a gesture as grand as a ball at Pemberley. 💃🕺

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2025-11-04 10:02