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Bitcoin News Today: Trader's Timely Bets Before Trump Tariff Spark Crypto Insider Debate
Generated by AI AgentCoin World
Monday, Oct 13, 2025 6:19 pm ET2min read
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Aime Summary
A Hyperliquid trader who allegedly netted $150 million by shorting
and before President Donald Trump's 100% tariff announcement on Chinese imports has reopened a leveraged short position, deepening speculation about potential insider knowledge of the market-moving event[1]. The trader, now dubbed a "Trump insider whale" by crypto analysts, opened a $160 million short on Bitcoin using 10x leverage, with unrealized profits exceeding $4 million as Bitcoin trades near $114,430[1]. The position, which would liquidate if Bitcoin breaches $123,500, highlights the ongoing volatility in crypto markets following the unprecedented $19 billion in liquidations triggered by Trump's late-Friday announcement.
The trader's original short bets-$80 million on Bitcoin and $30 million on Ethereum-were executed just one minute before Trump's tariff revelation at 20:50 GMT[1]. This near-perfect timing has drawn scrutiny, with onchain sleuth Coffeezilla calling it "incredible 'luck'" and questioning whether the whale had advance knowledge of the policy shift[1]. Blockchain researchers have linked the trader to Garrett Jin, former CEO of defunct exchange BitForex, through a 40,000 USDT transfer between wallets[2]. However, Jin has denied any connection to the
family or insider trading, telling X users, "The fund isn't mine-it's my clients'," and criticizing Binance co-founder Changpeng Zhao (CZ) for doxxing him[2].The debate over the trader's motives has split the crypto community. While some analysts, like onchain investigator ZachXBT, argue the evidence points to a "friend of Jin" rather than Jin himself[1], others highlight the whale's strategic bets on Polymarket, including a $40,000 position on a potential Trump pardon for Binance's CZ[2]. Meanwhile, the market fallout from Trump's tariffs has been historic: Bitcoin fell over 10% in a single day, while Ethereum and
plummeted 12%–14%, triggering the largest liquidation event in crypto history. Exchanges like Hyperliquid reported over $203 million in ETH liquidations alone, with more than 1.6 million traders impacted[2].Despite the chaos, institutional demand for Bitcoin remains resilient. ETF inflows continued even as retail traders faced massive losses, suggesting long-term confidence in the asset. Garrett Jin has used the controversy to critique crypto exchanges for offering excessive leverage on assets lacking intrinsic value, calling for stabilization mechanisms akin to U.S. equity markets[2]. His comments come as regulators and investors grapple with the risks of unregulated leverage, which amplified the market's collapse following Trump's announcement[4].
Bitcoin's price has since stabilized near $115,000 but remains down 8% weekly, while Ethereum has clawed back nearly 4% in 24 hours[3]. The Hyperliquid whale's new short, however, remains a flashpoint in the broader debate over market integrity. As Coffeezilla noted, "If exchanges continue offering extreme leverage, they should implement a stabilization fund-like mechanism to restore trust"[2]. For now, the crypto community watches closely, balancing skepticism over the whale's timing with the reality of a market still reeling from geopolitical shocks[5].
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