Trader Who Made $190M Shorting Market Also Profited From Trump’s CZ Pardon Bet
- A crypto trader who made $190 million shorting Bitcoin before Trump’s tariff news made another winning bet.
- The trader reportedly earned $56,522 by betting that Donald Trump would pardon Binance founder Changpeng “CZ” Zhao.
- On-chain data from Etherscan and Polymarket link the trades to the same wallet.
- Some claim insider knowledge, while others say the pardon was obvious and expected.
- Garrett Jin, the former CEO of BitForex, denies any connection to the wallet.
A crypto trader who made headlines for earning $190 million by shorting the market before Donald Trump’s tariff announcement appears to have struck gold again — this time, by correctly betting on Trump’s pardon of Binance founder Changpeng “CZ” Zhao.
According to on-chain data shared by blockchain analyst Euan, the same crypto wallet linked to the earlier short trade earned $56,522 on the prediction platform Polymarket by wagering that Trump would pardon CZ in 2025.
The discovery quickly drew attention from the crypto community. Some traders and analysts believe the timing of these trades suggests insider knowledge, while others argue the outcome was fairly predictable given the political and financial connections involved.
Insider Knowledge or Smart Guessing?
The wallet’s previous trade — shorting Bitcoin and Ethereum just hours before Trump announced a 100% tariff on China — led to speculation that the trader had access to inside information.
On-chain investigator Coffeezilla called the series of events “obvious insider knowledge,” while another sleuth known as Eye suggested that “he knows something we don’t know.”
However, other market participants disagreed, saying the trades could have been based on logical assumptions rather than leaked information.
Garrett Jin Denies Any Connection
Amid rumors about who was behind the wallet, former BitForex CEO Garrett Jin publicly denied being involved. Jin was accused by on-chain researchers of controlling the same address that shorted Bitcoin before Trump’s tariff news.
In a post on X, Jin said he has “no connection with the Trump family” and called the allegations false.
“The fund isn’t mine — it’s my clients’. We run nodes and provide in-house insights for them,” Jin clarified in another post, rejecting all claims of insider trading.
Despite his denial, speculation around the wallet’s ownership continues to swirl in the crypto community.
Market Reaction: “The Pardon Was Obvious”
While some see these trades as suspicious, others believe the Trump-CZ pardon was an expected outcome.
Swan Desk CEO Jacob King revealed that he personally earned $956,000 betting on the same event, arguing it was “obvious” after CZ invested over $2 billion into WLFUSD Stablecoin — a move he said “screamed pay-for-pardon.”
Crypto commentator Abbas also questioned the insider trading accusations, saying:
“You really think someone with access to the President would use insider info to make $56K?”
He added that talk of a Trump pardon for CZ had been circulating for months, making it far from a surprise.
The Bigger Picture
This case highlights the growing link between politics, crypto markets, and prediction platforms like Polymarket, where users can bet on real-world events.
It also raises new questions about transparency and ethics in trading when market-moving events overlap with political decisions.
While the identity of the trader remains unknown, one thing is clear: this mysterious whale has an uncanny ability to make profitable moves at the perfect time — whether through luck, skill, or connections.
Final Thought
From shorting the market for $190 million to winning on Trump’s pardon bet, this trader’s story shows how deeply connected politics and crypto markets have become.
Whether it was insider knowledge or smart prediction, these events show the growing influence of on-chain data, DeFi platforms, and political betting in shaping the modern trading landscape.
