A Bitcoin whale wallet, alleged to connect to President Trump’s family, closed a $227 million short position on Bitcoin, securing $6.4 million in profits just before a 2% price surge to $110,500 on Thursday.
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The wallet, ending in 7283ae, previously profited nearly $200 million by shorting Bitcoin amid market volatility from Trump’s tariff threats.
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It deposited $30 million in USDC to Hyperliquid on Sunday to initiate the short at prices between $109,000 and $113,000.
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Blockchain data from Hypurrscan shows the account now holds nearly $100 million in total profits, with a remaining $36 million balance for future trades, including a denial of Trump family ties by linked executive Garrett Jin.
Bitcoin whale linked to Trump family allegations closes massive short position for $6.4M profit amid BTC surge. Explore the trade details and implications for crypto markets today.
What is the Bitcoin whale Trump short position about?
The Bitcoin whale Trump short position refers to trading activities by an Ethereum address ending in 7283ae, which has been speculated to have indirect connections to President Trump’s family, though these claims have been firmly denied. This wallet executed a significant short on Bitcoin via Hyperliquid, closing the position profitably ahead of a market uptick. The trades highlight sophisticated market timing in a volatile crypto environment influenced by global events.
How did the wallet profit from the recent Bitcoin short?
The wallet initiated its latest short position after depositing $30 million in USDC to the decentralized exchange Hyperliquid on Sunday. As Bitcoin’s price fluctuated from highs near $113,000 down during Tuesday and Wednesday, the short—betting on a price decline—generated over $6.4 million in profits upon closure on Wednesday. According to data from blockchain analytics firm Arkham, the total short position reached $227 million, demonstrating precise execution in perpetual futures trading. This move followed a pattern, as the same address had earlier capitalized on volatility sparked by President Trump’s tariff announcements on October 10, leading to widespread liquidations totaling $19 billion across the crypto market. Expert analysts note that such large-scale positions require substantial leverage and risk management, with Hyperliquid’s block explorer Hypurrscan confirming the account’s cumulative profits nearing $100 million since active trading began. The wallet currently holds a $36 million balance in its perpetuals account, poised for potential new positions without any open orders as of Thursday afternoon.
Frequently Asked Questions
Who owns the Bitcoin whale wallet alleged to link to Trump family?
The Ethereum address ending in 7283ae is associated with Garrett Jin, former CEO of BitForex, who has stated it belongs to a client and explicitly denied any connections to President Trump’s family or use of insider information for trades. Blockchain firm Arkham’s analysis supports this linkage without confirming direct ownership, emphasizing that the wallet’s activities are independent of political affiliations.
Did the Trump pardon of CZ impact this Bitcoin whale’s trading strategy?
While the wallet’s Bitcoin short was unrelated, a separate address tied to Garrett Jin profited $56,000 on Polymarket by betting on President Trump’s pardon of Binance founder Changpeng Zhao, which occurred on Thursday. This accurate prediction underscores Jin’s market foresight in crypto regulatory events, though it does not directly influence the whale’s Hyperliquid positions. Voice search users should note: such bets reflect growing intersections between politics and cryptocurrency outcomes.
Key Takeaways
- Market Timing Mastery: The whale’s closure of a $227 million short before Bitcoin’s 2% rise to $110,500 exemplifies advanced trading strategies in response to real-time price movements.
- Allegation Denials: Garrett Jin’s firm rejection of Trump family links highlights the need for verified blockchain data over unconfirmed rumors in crypto reporting.
- Ongoing Potential: With $100 million in total profits and a $36 million balance, monitor Hyperliquid for future large-scale BTC positions that could signal broader market trends.
Conclusion
This Bitcoin whale’s short position amid Trump family allegations underscores the high-stakes nature of crypto trading, where timely decisions can yield millions in profits amid volatility from geopolitical events like tariff threats. As the wallet amasses nearly $100 million in gains on platforms like Hyperliquid, investors should prioritize data-driven insights from sources such as Arkham and Hypurrscan. Looking ahead, such activities may influence Bitcoin’s trajectory; stay informed on regulatory shifts, including recent pardons like that of CZ, to navigate the evolving landscape effectively.
