Evgeny Gaevoy, co-founder and CEO of Wintermute, has categorically denied widespread rumors alleging the firm’s collapse following the October 10 cryptocurrency market downturn. The speculation emerged early Saturday, suggesting the major market maker had been severely impacted by the market crash that eliminated approximately $19 billion in leveraged positions across the crypto ecosystem.
In a public statement addressing the concerns, Gaevoy emphasized the company’s operational stability and financial health, distancing Wintermute’s situation from previous industry crises involving FTX and Terra. The CEO clarified that while the broader market experienced significant volatility, Wintermute’s risk management protocols and capital reserves have positioned the firm to withstand such market conditions.
The market maker, known for its significant presence across multiple cryptocurrency exchanges and decentralized platforms, continues to maintain normal operations according to industry observers. Market analysts note that while the October 10 event triggered substantial liquidations across leveraged positions, established market makers with diversified portfolios and robust risk management frameworks have demonstrated resilience.
Industry participants have highlighted the importance of distinguishing between isolated operational challenges and systemic failures, noting that Wintermute’s transparent communication during this period contrasts with approaches taken during previous high-profile industry collapses. The firm maintains its position as a key liquidity provider in digital asset markets despite the challenging market environment.
