Wintermute founder Evgeny Gaevoy said in a post on X that Binance has the strength to withstand a shock three to four times worse than the current situation and still remain largely intact. He added that the exchange will most likely get through the episode and that user funds are probably safe, while also warning that no new deposits should be made until the issue is identified and resolved. Gaevoy also disclosed that Wintermute does have exposure to Binance, but that it accounts for less than 20% of the firm’s net assets. According to him, that level of exposure would not disrupt Wintermute’s market-making operations under any scenario or time horizon. The remarks were cited by Odaily in a 7x24 news update.
According to Odaily, Wintermute founder Evgeny Gaevoy said in a post on X that Binance has enough strength to withstand a hit three to four times worse than the current situation and still remain largely intact.
Gaevoy said Binance will most likely get through the episode and that user funds are probably safe. At the same time, he said people should avoid depositing more funds to the exchange until the issue is identified and resolved.
He also said Wintermute has exposure to Binance, but that it represents less than 20% of the firm’s net assets. 「No matter the scenario, I believe our operations would not face any disruption across any time horizon,」 Gaevoy said.
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