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Wintermute founder: has not sued CEX, nor has there ever been such a plan.
On November 4, The Block reported that Wintermute's CEO and founder Evgeny Gaevoy denied rumors that the crypto market maker and trading company was preparing to sue CEX after the market's big dump in October. Gaevoy stated, “We have never planned to sue CEX, nor do we see any reason to do so in the future.” He shared a post he had made on October 11, which noted that Wintermute had survived after experiencing the largest liquidation event in cryptocurrency history. Following the market's big dump on October 11, over $20 billion in leveraged crypto positions were liquidated. Some observers may recall the market chain reaction in 2022—worried that a major market maker or trading company might have suffered fatal losses. Experts interviewed indicated that this loss affected multiple groups, including traders, market makers, and centralized trading platforms, primarily because the open contracts in the crypto market reached an all-time high before the big dump.