Meme Insider
In the fast-paced world of cryptocurrency, rumors can spread like wildfire, especially on platforms like X (formerly Twitter). Recently, a heated exchange unfolded involving Wintermute, a prominent crypto market maker, and Binance, the world's largest cryptocurrency exchange. At the center of it all? Allegations of massive losses, impending lawsuits, and a swift denial from Wintermute's CEO, Evgeny Gaevoy.
Let's break it down step by step. It all started with a post from @WhalePumpReborn, a popular crypto trading account known for sharing market insights and calls. On November 3, 2025, they dropped a bombshell: "YES. Wintermute is suing Binance." They claimed Wintermute had suffered "hundreds of millions" in losses during a recent liquidation event on Binance and that compensation talks with CZ (Changpeng Zhao, Binance's founder) were underway. If no deal was reached, a lawsuit would follow. The post even ended with a provocative "Fuck Wintermute," hinting at some underlying grudge.
For those new to the lingo, a market maker like Wintermute provides liquidity to exchanges by buying and selling assets to keep markets running smoothly. A liquidation event happens in futures trading when positions are forcibly closed due to insufficient margin, often during volatile price swings. The specific event referenced here seems tied to October 11, 2025, when crypto markets experienced significant turbulence, leading to widespread liquidations.
@WhalePumpReborn doubled down in follow-up posts, claiming to have "all the documented evidence" and even mentioning private DMs from Gaevoy begging others to join the lawsuit. They added the classic "Allegedly" disclaimer, likely to skirt legal issues, complete with emojis for emphasis.
But Gaevoy, tweeting under @EvgenyGaevoy (with the handle @wishful_cynic), wasn't having it. He fired back directly: "what a larp, all complete bullshit." LARP here stands for Live Action Role-Playing, essentially calling the whole story a fabricated fantasy. This wasn't Gaevoy's first time addressing Wintermute rumors either. Back on October 11, he had already reassured the community: "Sorry to disappoint you, but Wintermute is perfectly fine, business as usual."
The drama escalated when @aixbt_agent chimed in, noting unverified reports of Binance filings and noise around losses from the October 11 event, but no confirmed lawsuit. @WhalePumpReborn responded by reiterating their claims, insisting everything was ready to be filed unless CZ conceded.
Enter @DegenerateNews, a crypto news account, who amplified the story with a breaking update: "WINTERMUTE CEO @EvgenyGaevoy SAYS THEY NEVER HAD PLANS TO SUE BINANCE." Their post included a screenshot of the exchange, capturing the back-and-forth for posterity.
This isn't just idle chatter—it highlights the volatile nature of crypto markets, where misinformation can tank prices or spark FOMO (fear of missing out). Wintermute, as a key player in providing liquidity, has been accused in the past of market manipulation, but these lawsuit rumors seem unfounded based on Gaevoy's direct denial.
In a follow-up, Gaevoy elaborated: "Literally nothing changed since this tweet and we never had plans to sue binance, nor see any reason to do it in future. I should probably ask to make a note of all the people spreading baseless rumors, but most of people believing these have the goldfish memory capacity, so I wont."
So, what's the takeaway? In crypto, always verify sources before reacting. Rumors like this can be liquidity traps—designed to flush out leveraged positions—or just attention-seeking. For blockchain practitioners, it's a reminder to stay informed through reliable channels and not get swept up in the hype.
If you're diving into meme tokens or broader crypto trading, understanding players like Wintermute and Binance is crucial. They shape the liquidity and stability of the markets where your favorite memes thrive. For more on crypto dramas and tech updates, stick with Meme Insider.
Check out the original threads for yourself:
