Wintermute founder Evgeny Gaevoy has dismissed the notion that a recent crypto market flash crash was due to a software fault. Gaevoy argued that the crash, which occurred on Friday night, was driven by macroeconomic news in a highly leveraged and illiquid market environment. He emphasized that attributing the market downturn to a single exchange is overly simplistic and not logically sound. In the context of a bear market, while other assets are rising, the crypto market remains under pressure, and blaming one platform is not a comprehensive explanation.