Trump-Linked Whale Nets $6.4 Million Profit, Closing $200 Million Bitcoin Short Before Price Rally
Introduction: A Masterclass in Market Timing In the high-stakes world of cryptocurrency trading, a single Ethereum wallet has captured the market's attention with a series of impeccably timed moves. The address, ending in "7283ae," which was previously alleged to have connections to former President Trump's family, has once again demonstrated remarkable prescience. On Wednesday, this entity closed a massive Bitcoin short position worth over $200 million, securing a profit of $6.4 million just before Bitcoin's price ascended. This event marks the latest in a string of profitable trades for the wallet, which earned close to $200 million earlier this month by shorting Bitcoin and Ethereum ahead of a market downturn triggered by geopolitical events. The wallet's lifetime earnings on the perpetual futures decentralized exchange Hyperliquid now stand at nearly $100 million, cementing its status as one of the most watched entities in the crypto space.
The Anatomy of the Latest Trade The sequence of events for this most recent trade began on Sunday with a substantial capital infusion. The whale deposited $30 million in USDC to Hyperliquid, signaling preparations for a significant market position. Shortly after this deposit, the entity initiated a large-scale short position on Bitcoin—a strategic bet that the asset's price would decrease. The mark prices for these short positions were established within a range of approximately $109,000 to $113,000 as Bitcoin experienced upward price momentum on Tuesday.
As market conditions shifted on Tuesday afternoon and into Wednesday, with Bitcoin's price beginning to fall, the short position started to yield positive results. The strategic decision to close these positions on Wednesday locked in the $6.4 million profit. The timing proved, once again, to be shrewd. Following the position's closure, Bitcoin's price increased by more than 2% on Thursday, reaching a price point of $110,500—a value that sits above the initial mark prices set when the short was first opened.
A Pattern of Profitable Predictions This is not the first instance where this particular Ethereum address has demonstrated an uncanny ability to anticipate market movements. Earlier this month, the wallet earned close to $200 million by shorting both Bitcoin and Ethereum. This activity occurred just prior to October 10, when former President Trump's tariff threats introduced significant volatility into the market. That volatility culminated in a historic cascade of crypto liquidations, totaling a record-breaking $19 billion.
The wallet's strategy appears to involve depositing tens of millions of dollars in cryptocurrency to Hyperliquid on a routine basis over the past month to open perpetual trades. These trades are essentially bets on the future price direction of specific assets. According to data from the Hyperliquid block explorer, Hypurrscan, the account currently holds a $36 million balance in its perps account. This capital remains available for opening new positions; however, as of Thursday afternoon, the wallet maintains no open orders.
Addressing the Trump Connection Controversy The Ethereum address "7283ae" first drew significant public scrutiny when allegations surfaced linking its activity to insiders within the Trump family. These claims suggested that the wallet's profitable trades were executed based on non-public information regarding geopolitical events that would impact the market. However, these allegations have been directly contested by Garrett Jin, the former CEO of BitForex.
Jin has publicly stated that he does not have a connection to the Trump family and that the wallet's trading activity was not reliant on insider information. He has clarified that the account belongs to a client and is not his personal wallet. Despite these denials, the narrative of a "Trump-linked whale" continues to persist in public discourse due to the timing of the trades relative to major announcements from the former president.
Garrett Jin's Independent Prediction Success Adding another layer to this story, an address confirmed to be linked to Garrett Jin himself was involved in a separate, successful prediction. According to data from blockchain analytics firm Arkham, a Polymarket profile connected to Jin took positions in the "Will Trump Pardon CZ?" prediction market.
This account began purchasing "yes" shares 26 days prior to the event at a price of $0.30 and continued accumulating them until October 11. The profile did not open any other positions in different markets on Polymarket. On Thursday, President Trump pardoned Changpeng "CZ" Zhao, the founder and former CEO of Binance, resolving the prediction market in Jin's favor and netting him a profit of $56,824. This independent success demonstrates an individual capacity for accurate forecasting outside of the controversial "7283ae" wallet's activities.
Hyperliquid: The Platform of Choice for a Whale A significant portion of this wallet's documented success has occurred on Hyperliquid, a perpetual futures decentralized exchange (perps DEX). The wallet's lifetime earnings on this specific platform are now nearly $100 million, according to Hypurrscan data. This highlights the growing role and capability of decentralized derivatives platforms in facilitating large-scale, sophisticated trading strategies.
Unlike centralized exchanges, decentralized perpetual exchanges like Hyperliquid allow users to maintain custody of their assets while engaging in leveraged trading. The ability for a single entity to execute positions worth hundreds of millions of dollars on such a platform underscores its liquidity and institutional-grade infrastructure. The whale's repeated use of Hyperliquid also points to a level of trust in its smart contracts and settlement mechanisms for handling extremely high-value transactions.
Comparing Market Impact: Then and Now The scale and impact of this whale's trading activity can be contextualized by comparing its two major plays this month. The earlier short in October, which preceded the $19 billion liquidation event, involved a position size and profit magnitude that was significantly larger than this week's trade. The profit of close to $200 million from that event had a more pronounced effect on market narratives, fueling theories about insider information due to its direct correlation with a geopolitical announcement.
This week's trade, while still substantial at over $200 million in position size and $6.4 million in profit, occurred within a different market structure. It did not precede a comparable liquidation cascade or a similarly jarring macroeconomic event. Instead, it showcased a tactical play on shorter-term price volatility, profiting from a dip before a subsequent recovery. This contrast demonstrates the whale's ability to adapt its strategy to different market conditions, executing both macro-driven bets and shorter-term tactical trades with high proficiency.
Strategic Conclusion: Decoding the Signals in Whale Movements The repeated success of the "7283ae" Ethereum address presents a complex picture for crypto market participants. On one hand, it serves as a case study in advanced derivatives trading and risk management on decentralized platforms. The entity has consistently demonstrated an ability to manage large positions and secure profits with precise timing. For professional traders, this activity underscores the importance of sophisticated on-chain analytics; tracking capital flows of major wallets can provide valuable, albeit lagging, insights into market sentiment and potential turning points.
The controversy surrounding its alleged connections also highlights an enduring challenge within crypto markets: the perception and potential reality of information asymmetry. While Garrett Jin has denied any Trump affiliation or use of insider information for the wallet's trades, the coincidence of timing continues to fuel debate about how geopolitical intelligence might influence digital asset markets.
For readers monitoring the landscape, key developments to watch include any further public statements from Garrett Jin or other parties linked to the address that might clarify its ownership and operational strategy. Additionally, continued tracking of the wallet's activity on Hyperliquid and other platforms will be critical. Its current $36 million balance suggests it is poised to take new positions, and its next move will be highly scrutinized. Finally, observing how regulatory bodies respond to high-profile trades that coincide with major news events could shape future compliance requirements for large-scale derivatives trading. In an evolving market, understanding the actions of its most successful participants remains an essential, if challenging, endeavor for gaining an edge.
Disclaimer: This article is based solely on publicly available data and statements from involved parties. It does not constitute financial advice and all trading carries risk.