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A crypto trader dubbed the Trump insider whale is once again stirring controversy after opening a $340 million Bitcoin short position, days after earning hundreds of millions by betting against the market ahead of former President Donald Trump’s tariff announcement.
The Trump insider whale, who reportedly made close to $200 million from shorting Bitcoin (BTC) and Ethereum (ETH) last week, has publicly denied having any ties to the Trump family or access to privileged information. Blockchain data shows the wallet, ending in 7283ae, deposited $40 million USDC into decentralized trading platform Hyperliquid early Monday before initiating the leveraged short.
At 10x leverage, the position amplifies exposure to a potential market downturn. With Bitcoin trading around $116,009, the account currently holds about $700,000 in unrealized profits. If BTC climbs to a new all-time high of $130,460, the trade will be liquidated—wiping out both principal and gains.
The timing of the Trump insider whale’s latest move has reignited debate among crypto investors and market analysts over potential insider trading and market manipulation in decentralized markets.
The Trump insider whale label originated from Arkham Intelligence, a blockchain analytics firm that flagged the wallet’s suspiciously well-timed trades last week. The whale shorted Bitcoin and Ethereum mere hours before Trump’s surprise tariff comments, which triggered a $19 billion crypto market liquidation.
Crypto researchers say the precision of the trades points to foreknowledge of the policy announcement. “The trader’s timing was too perfect to be a coincidence,” Arkham Intelligence, in an on-chain analysis shared Monday.
However, no direct evidence links the trader to the Trump administration or its associates. The Trump insider whale has firmly rejected the claims, asserting the trades were based purely on market analysis rather than insider tips.
Speculation intensified when pseudonymous on-chain analyst Eyeonchains tied the wallet to former BitForex CEO Garrett Jin in a post on X (formerly Twitter). The post, later reshared by Binance founder Changpeng “CZ” Zhao, suggested that Jin may be the trader behind the account.
“Not sure of validity. Hope someone can cross check,” — Changpeng Zhao, Founder, Binance, in a post on X.
In response, Jin acknowledged his connection to the wallet but denied any political involvement or insider trading activity.
“Hi CZ, thanks for sharing my personal and private information. To clarify, I have no connection with the Trump family or Donald Trump Jr.—this isn’t insider trading,” — Garrett Jin, former CEO, BitForex, in a reply on X.
Jin added that the funds belong to his clients, not his personal accounts, distancing himself from the Trump insider whale narrative.
Data from HypurrScan shows that the same wallet deposited $80 million in USDC on Friday before shorting around 3,700 BTC—valued at $450 million—through Hyperliquid. After closing the position, the account reportedly withdrew $150 million and transferred it to another wallet, now holding $386 million USDC.
The Trump insider whale’s trades have become a focal point for crypto market observers, raising questions about regulatory oversight in decentralized finance (DeFi) and the opacity of whale-driven market movements.
Meanwhile, Bitcoin has rebounded modestly over the past 24 hours, trading at $115,796, though still down 8% on the week. Ethereum has risen nearly 4% in the same period, trading around $4,284, after an overall weekly decline of 9%.
The controversy surrounding the Trump insider whale underscores growing concerns among crypto investors and policy makers about transparency and fairness in on-chain trading. While DeFi platforms like Hyperliquid offer open access and non-custodial trading, their anonymity also shields large traders from scrutiny.
Analysts argue that cases like the Trump insider whale illustrate the blurred line between informed speculation and potential insider advantage in an increasingly politicized financial landscape.
Whether the trader’s success stems from skill, timing, or information asymmetry remains to be proven—but for now, the Trump insider whale continues to shape conversations about accountability in crypto markets.
