Wintermute CEO says no plans to sue Binance over October liquidation event

Evgeny Gaevoy, CEO of crypto market maker Wintermute, said the firm has no plans to sue Binance over the largest-ever forced crypto liquidation event that occurred in October. According to The Block, Gaevoy stated on X that rumors of Wintermute preparing a lawsuit are untrue, adding that there is no reason for such action. His clarification follows an earlier statement in which he said Binance's auto-deleveraging (ADL) system had malfunctioned during the event, causing losses for some trading firms. At the time, Gaevoy said he understood that these firms were preparing legal action against the exchange.