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Wintermute’s founder defends Binance amid October 10 flash crash blame game
Jan 31, 2026
< 1 min read
by Hannah Collymore
for CryptoPolitan
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Evgeny Gaevoy disputes claims that Binance caused the October 10 crypto market crash, which resulted in a loss of $19 billion in leveraged positions. The statement highlights ongoing tensions among key industry figures regarding the impact of exchange activities on market stability.
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Evgeny Gaevoy, founder of Wintermute, the global algorithmic trading firm, made comments challenging ARK Invest CEO Cathie Wood, OKX CEO Star Xu, and other industry players’ claims that Binance’s actions triggered the October 10 meltdown that wiped out around $19 billion in leveraged positions. The controversy involving cryptocurrency exchanges over last October’s market crash has […]
