Hyperliquid News Today: Garret Jin's One-Minute Bitcoin Short Ignites Insider Trading Debate

A Hong Kong-based crypto entrepreneur, Garret Jin, has denied allegations of insider trading after a $735 million short position on Bitcoin via Hyperliquid coincided with a market crash triggered by U.S. President Donald Trump's 100% tariff announcement on Chinese imports. The trade, executed minutes before Trump's Friday, Oct. 10, statement, earned Jin an estimated $150 million, sparking intense speculation about his connections to political figures and potential foreknowledge of the policy move.

Onchain sleuths traced the short position to Jin through blockchain analytics, linking the trade to his Ethereum Name Service (ENS) domain, "garrettjin.eth". The controversy escalated when Binance founder Changpeng Zhao (CZ) shared the findings with his 10 million followers, prompting Jin to respond: "Thanks for sharing my personal and private information. To clarify, I have no connection with the Trump family or @DonaldJTrumpJr - this isn't insider trading". Jin further asserted that the funds used for the short did not belong to him but to clients, emphasizing that the trade was based on "careful economic analysis" of overbought market conditions and escalating U.S.-China trade tensions.

The timing of the trade has drawn scrutiny. Just one minute before Trump's tariff announcement, the Hyperliquid whale finalized its short position, a coincidence labeled "incredible 'luck'" by onchain analyst Stephen Findeisen (Coffeezilla). CoinGlass data reveals that the market liquidated over $19 billion in leveraged positions during the crash, with Bitcoin plummeting from $126,198 to $115,000. Jin's new $160 million short bet, opened hours after the initial trade, has further fueled debates about his market foresight.

While some analysts, like ZachXBT, argue the evidence linking Jin to the trade is speculative-citing only a 40,000 USDT transfer as a direct connection-others, including researcher EyeOnChain, maintain that blockchain data strongly implicates him. Meanwhile, unconfirmed rumors have surfaced suggesting the trade could be linked to Barron Trump, the president's son, though no evidence supports this claim.

Jin has also proposed solutions to mitigate such market volatility, criticizing crypto exchanges for offering excessive leverage on assets lacking intrinsic value. He called for stabilization funds akin to those in traditional equities to provide liquidity during crises, a move he argues would restore trust and foster healthier market growth.

As the debate over insider trading rages, the incident underscores broader concerns about leverage and transparency in crypto markets. Hyperliquid, which processed $319 billion in trading volume in July 2025, has emerged as a key player in decentralized derivatives, challenging centralized exchanges like Binance. CZ's recent denial of any financial ties to Hyperliquid founder Jeff Yan, however, has done little to quell speculation about the platform's influence.

[1] Who Is Garret Jin? Crypto Whale Who Shorted Bitcoin Right Before ... (https://finance.yahoo.com/news/garret-jin-crypto-whale-shorted-120113806.html)

[2] Bitcoin Whale's $160M Short on Hyperliquid Sparks Insider ... (https://www.cryptotimes.io/2025/10/13/bitcoin-whales-160m-short-on-hyperliquid-sparks-insider-suspicion/)

[3] Was the Whale Who Shorted Before Donald Trump's Tariff ... (https://en.bitcoinsistemi.com/was-the-whale-who-shorted-before-donald-trumps-tariff-announcement-his-son-barron-trump-heres-what-we-know/)

[4] Alleged Hyperliquid whale denies Trump ties, thanks CZ for doxing, and pitches market stabilization fund (https://www.tradingview.com/news/the_block:d12ee2b48094b:0-alleged-hyperliquid-whale-denies-trump-ties-thanks-cz-for-doxing-and-pitches-market-stabilization-fund/)

[6] Trump's new 100% tariffs on China triggered a $19 billion crypto ... (https://www.cnn.com/2025/10/11/business/trump-tariffs-crypto-selloff)

[11] Binance's CZ Responds to Hyperliquid Rumors in New ... - Coinpedia (https://coinpedia.org/news/binances-cz-responds-to-hyperliquid-rumors-in-new-gossip-tweet-community-reacts/)