collect2: error: ld terminated with signal 11 [Segmentation fault], core dumped

Question

I was learning OpenGL using GLFW, and didn't have a great understanding of makefiles at the time. I had OpenGL working, but I decided to learn makefiles more. I came up with this after a lot of websites, hours, and trial and error:

EXENAME = "OpenGL Demo"
CC = gcc
SRCS = ../src/OpenGLDemo.c
OBJS = $(SRCS: .c = .o)
CFLAGS = -Wall -g -c
LIBS = -L./libs -lglfw3 C:/Windows/SysWOW64/opengl32.dll C:/Windows/SysWOW64/glu32.dll

all: opengldemo exe

exe: $(OBJS)
    $(CC) $(OBJS) -o $(EXENAME) $(LIBS)

opengldemo: ../src/OpenGLDemo.c
    $(CC) $(CFLAGS) ../src/OpenGLDemo.c

clean:
    rm -f $(EXENAME)

rebuild: clean all

But, when I compile, it gives this error when it tries to build the executable:

collect2: error: ld terminated with signal 11 [Segmentation fault], core dumped
makefile:11: recipe for target 'exe' failed
make: *** [exe] Error 1

It does build an executable, but my computer says it can't run it. I tried searching the internet, and found gcc bug reports including this error. There is probably something stupid that I am doing to get this error. How do I fix this error, and what does it mean?

EDIT: Full output:

make
gcc -Wall -g -c ../src/OpenGLDemo.c
gcc ../src/OpenGLDemo.c -o "OpenGL Demo" -L./libs -lglfw3
C:/Windows/SysWOW64/opengl32.dll C:/Windows/SysWOW64/glu32.dll
cygwin warning:
  MS-DOS style path detected: C:/Windows/SysWOW64/opengl32.dll
  Preferred POSIX equivalent is: /cygdrive/c/Windows/SysWOW64/opengl32.dll
  CYGWIN environment variable option "nodosfilewarning" turns off this warning.
  Consult the user's guide for more details about POSIX paths:
    http://cygwin.com/cygwin-ug-net/using.html#using-pathnames
collect2: error: ld terminated with signal 11 [Segmentation fault], core dumped
makefile:11: recipe for target 'exe' failed
make: *** [exe] Error 1