In the most astonishing of developments, Mr. Evgeny Gaevoy, the venerable founder of Wintermute, has publicly debunked the rather amusing allegations that his establishment intends to pursue legal action against Binance, following the tumultuous market collapse that transpired on October the 11th, wherein an alarming sum of $19 billion virtually vanished in the blink of an eye! Oh, what a remarkable time to be alive! 🎭
- Our esteemed CEO, Mr. Gaevoy, has emphatically dismissed the delightful rumors that his enterprise is contemplating a lawsuit against Binance, affably asserting that they remain, in fact, “perfectly fine” whilst engaging in their daily pursuits.
- Despite acknowledging the occurrence of some peculiar liquidations amidst the aforementioned market calamity, Mr. Gaevoy has regrettably chosen to shroud the precise extent of losses in a veil of secrecy, leaving us all to wonder whether Binance has bestowed upon them the kindly gift of compensation.
In a post most recent, dated November the 4th, our illustrious founder addressed the salacious discourse circulating within the community, professing that contrary to the wild claims made by various characters on the Internet, Wintermute harbors no intentions of legal confrontation with Binance. “Business as usual,” he proclaimed, much to our collective amusement.
He remarked with a certain je ne sais quoi that he decidedly never harbored ambitions of litigation, nor perceives any valid reason to do so in forthcoming days. Quite the optimist, our dear Gaevoy! 🧐
Earlier that very day, an individual of some notoriety, known as WhalePump Reborn (because, naturally, monikers such as these lend an air of credibility), began weaving extravagant tales regarding Wintermute’s alleged schemes for a lawsuit stemming from losses that apparently equated to “hundreds of millions.” One can only imagine their fervor! 📈
This account, purportedly a “commentary account,” ominously suggested that calamities would befall the brave founder of Binance, Monsieur Changpeng Zhao, should he fail to appease those market makers whose fortunes had been greatly upended. They even went so far as to draw an unfortunate comparison to the cataclysmic FTX incident. My word! Where shall it end? 🤔
Our dashing Gaevoy, in response to the thread, disparaged the claims as nothing more than a mischievous “larp.” Such was the level of absurdity that he implied this account merely sought to provoke and delight in the chaos of misinformation. Ah, the thrill of it all! 🍿
In a follow-up post, the WhalePump Reborn fancifully questioned if Mr. Gaevoy had signed an NDA, positing that perhaps he was in league with other market makers to stage a united front in their fictitious lawsuit. Mr. Gaevoy, with calm aplomb, swiftly dismissed both conjectures, leaving the audience thoroughly entertained.
Pray, how much did Wintermute truly suffer in the crash of October 11th?
As of the latest news, our gallant leader has not disclosed a specific tally regarding the losses sustained, although he did openly confess in a podcast that certain liquidations were, in his words, rather “ridiculous.” One cannot help but wonder what sorts of prices we are discussing here! 💸
As previously reported by some digitally inclined entity known as Wu Blockchain, there are allegations suggesting that the catastrophic market dip of October 11th bore the hallmarks of a coordinated exploit, capitalizing on a most inconvenient loophole within Binance’s Unified Account margin system-while the poor traders were left scratching their heads. Ha! How delightfully nefarious! 🕵️♂️
The aftermath saw Binance dispense a rather considerable sum of $283 million to traders ensnared in this debacle, following the egregious depegging of assets such as USDE, wBETH, and BnSOL. Not to mention, the trading volume for these unfortunate entities reflected losses that ranged between a staggering $500 million and $1 billion. Surely, one could write a novel on the perils of trading! 📖
Moreover, Binance initiated a $400 million charity for those affected, which appeared to include an enticing offer of low-interest loans for institutional users-a fine proposal if one should find themselves in the unfortunate position of needing to “restart” their trading endeavors! How very generous! 💰
In summary, it remains obscured whether Binance ever compensated our dear Wintermute amidst the ensuing chaos, although it is worth noting that Wintermute proudly holds the title of the largest liquidity provider on the exchange. On-chain data intriguingly reveals an impressive $700 million that Wintermute had gracefully positioned on Binance, prior to the tumultuous crash.
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2025-11-04 10:30