Bitcoin News Today: Crypto Whale's $340M Short: Market Mastery or Unethical Edge?

A cryptocurrency whale trading on decentralized platform Hyperliquid has drawn scrutiny for shorting Bitcoin (BTC) and Ethereum (ETH) ahead of U.S. President Donald Trump's recent tariff announcement, amassing over $200 million in profits. The same entity has since reopened a $340 million short position on Bitcoin, leveraging 10x margin and betting on further price declines, despite recent market reboundsAlleged 'Trump Insider Whale' Denies Insider Trading, Opens New $340 Million Bitcoin Short^[1].

Blockchain analytics firm Arkham Intelligence labeled the trader a "Trump insider whale," citing the uncanny timing of their trades. The Ethereum address ending in "7283ae" deposited $40 million in USDC to Hyperliquid on Monday, using it to short Bitcoin at an entry price of $116,009. The position now holds over $700,000 in unrealized profits, but risks liquidation if Bitcoin breaches $130,460-a new all-time highAlleged 'Trump Insider Whale' Denies Insider Trading, Opens New $340 Million Bitcoin Short^[1].

The whale's prior actions, which included a $450 million short on Bitcoin and $350 million on Ethereum before Trump's 100% tariff announcement on China, triggered a record $19 billion in crypto liquidations across exchanges. Over 250 wallets lost millionaire status on Hyperliquid during the crashCrypto Whale Opens New $163M Bitcoin Short After $192M Win^[3]. While the trader's timing has fueled speculation of insider knowledge, no direct evidence links them to Trump's administration.

Garrett Jin, former CEO of defunct exchange BitForex, has been publicly tied to the wallet by on-chain sleuths. Jin denied any Trump family connections or insider trading, calling Binance co-founder Changpeng Zhao (CZ) out for sharing his personal information. "The fund isn't mine-it's my clients'," Jin tweeted, emphasizing that the trades were executed on behalf of third partiesHyperliquid Whale Who Timed Trump Tariff Crash Doubles Down With New Bitcoin Short^[6]. CZ's retweet of allegations against Jin amplified public scrutiny, though Jin's claims remain unverified.

The market's volatility has also drawn criticism of decentralized exchanges. Hyperliquid's Auto-Deleveraging (ADL) mechanism exacerbated weekend selloffs, wiping $1.2 billion in trader capital. Binance faced backlash after tokens like USDE and WBETH depegged, triggering forced liquidations. The exchange denied technical failures, attributing the chaos to "display issues" and offering $283 million in compensationBinance Under Fire After BTC Short Selloff Glitch^[5].

Bitcoin's price has modestly recovered to $115,796 in the last 24 hours but remains down 8% weekly following the crash. Ethereum, up nearly 4% in the same period, has fallen 9% on the week to $4,284Alleged 'Trump Insider Whale' Denies Insider Trading, Opens New $340 Million Bitcoin Short^[1]. Analysts remain divided on whether the whale's actions reflect market savvy or unethical advantages. "If exchanges continue offering extreme leverage, they should implement stabilization funds akin to U.S. equities," Jin argued, urging systemic reformsHyperliquid Whale Who Timed Trump Tariff Crash Doubles Down With New Bitcoin Short^[6].

As the crypto community debates market integrity, the "Trump insider whale" continues to amplify its bearish bets. With Bitcoin hovering near key support levels, the trader's latest move underscores the high-stakes, leveraged dynamics defining the sector's next phaseAlleged 'Trump Insider Whale' Denies Insider Trading, Opens New $340 Million Bitcoin Short^[1].

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