Alleged “Trump Insider Whale” resolves $200 million Bitcoin short

bitcoin whale Previously linked to President Trump’s familyThe founder of a cryptocurrency startup connected to the wallet denied this, but on Wednesday he closed out more than $200 million worth of short positions in BTC ahead of Bitcoin’s price rally.

ethereum address Ends with “7283ae”” made headlines earlier this month for making nearly $200 million shorting Bitcoin and Ethereum just before President Trump’s Oct. 10 tariff threat. This threat causes market volatility and Record Cryptocurrency Liquidation Chain of $19 Billion.

The most recent activity at this address began as follows: Deposit $30 million USDC on perpetual futures decentralized exchange Hyperliquid on sunday.

Shortly after, whales began taking large short positions against Bitcoin, betting that the asset’s price would fall. Following Bitcoin’s rally on Tuesday, short mark prices ranged from around $109,000 to as high as $113,000.

However, as the price of Bitcoin fell from Tuesday afternoon to Wednesday, the trade started to pay off, and by the time the short position was finally closed, he had earned more than $6.4 million in profits.

The trade was once again shrewdly timed, as Bitcoin rose more than 2% on Thursday and now traded at $110,500, above the mark price of the initial short position set by 7283ae.

With another $6.4 million in profits booked this week, the account has collected nearly $100 million in total profits on Hyperliquid to date. Data from Hyperliquid Block Explorer, Hypurrscan.

The address is Has ties to former BitForex CEO Garrett ZinnHe said he had no ties to the Trump family and did not rely on insider information before announcing the shorts before the liquidation scandal two weeks ago.

Over the past month, the account has been regularly depositing tens of millions of dollars worth of cryptocurrencies into HyperLiquid for purpurs trading, or betting on the future price of a particular asset. The address currently maintains a $36 million balance in its PERPS account and has no open orders as of Thursday afternoon, but it can be used to open new positions.

Although Jing maintains that the account belongs to his client and not him, an address associated with the former exchange executive himself made headlines on Thursday for allegedly making more than $50,000 by correctly predicting that President Trump would pardon Binance founder and former CEO Changpeng “CZ” Chao.

Data collected by blockchain analysis firm Arkham has revealed Polymarket’s profile, which includes a position on “Will President Trump pardon CZ?” The market is connected to gin. The account began purchasing Yes stock at $0.30 26 days ago and continued to do so through October 11th with no other positions in other markets.

President Trump pardoned Zhao on Thursday, and the market settled in Jin’s favor, ultimately netting him a profit of $56,824.