Wintermute founder: Has not sued any exchange, nor ever had such intentions

BlockBeats News, November 4, according to The Block, Wintermute CEO and founder Evgeny Gaevoy has refuted rumors that the crypto market maker and trading firm is preparing to sue an exchange following the market crash in October.

Gaevoy stated: "We have never had any plans to sue any exchange, nor do we see any reason to do so in the future." In this post, he forwarded a message he published on October 11, in which he said that Wintermute survived the largest liquidation event in crypto history.

After the market crash on October 11, over $20 billion in leveraged crypto positions were liquidated. Some observers, perhaps recalling the chain reactions of 2022, were concerned that a major market maker or trading firm might have suffered fatal losses.

Experts interviewed stated that this loss affected multiple groups, including traders, market makers, and centralized trading platforms, mainly because open interest in the crypto market had reached a record high before the crash.