Alleged 'Trump Insider Whale' Closes $200 Million Bitcoin Short

Core Insights - A Bitcoin whale, previously linked to President Trump's family, closed a short position worth over $200 million just before a rise in Bitcoin's price [1][5] - The Ethereum address involved earned nearly $200 million by shorting Bitcoin and Ethereum prior to market volatility caused by Trump's tariff threats [2][3] - The whale's trading strategy resulted in a profit of over $6.4 million from the short positions, contributing to nearly $100 million in total profits on the Hyperliquid platform [4][5] Trading Activity - The whale initiated a short position on Bitcoin after depositing $30 million in USDC to the decentralized exchange Hyperliquid [2][3] - The short positions were established at mark prices between $109,000 and $113,000, with the trade becoming profitable as Bitcoin's price fell [3] - The account currently holds a balance of $36 million in its perps account, with no open orders as of Thursday afternoon [5] Connections and Predictions - The address is associated with Garrett Jin, former CEO of BitForex, who denies any connection to the Trump family or insider trading [5][6] - Jin's other trading activities include a successful prediction of President Trump's pardon of Binance founder Changpeng Zhao, resulting in profits of $56,824 [6][7]