A significant Bitcoin short was initiated shortly before President Donald Trump’s announcement regarding tariffs on China. This timing has led to speculation about insider trading. The former CEO of BitForex, Garrett Jin, has publicly denied these allegations, asserting he has no link to the Trump family. Jin responded to claims by a crypto researcher named Eye regarding a wallet linked to significant Bitcoin shorting shortly before the tariff announcement.

On X, Jin clarified he is not connected to insider trading and stated the wallet referenced belongs to a client. This wallet was utilized to enact a $735 million short on Bitcoin following a sharp drop in cryptocurrency value after Trump’s announcement of a 100% tariff on China. While Jin has faced criticism from some corners, others, such as analysts ZachXBT and Quinten Francois, have expressed skepticism over the validity of the claims made against him.

The question of insider trading is not new in the cryptocurrency realm, with various individuals previously accused of making trades based on non-public information.

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