The cryptocurrency trader who reportedly profited from shorting the market during President Trump’s tariff announcement has struck again, this time by betting on a pardon for Changpeng “CZ” Zhao, the founder of Binance.
Onchain analyst Euan highlighted data from Etherscan linking the trader to a Polymarket account that netted $56,522 by predicting Trump would grant Zhao a pardon in 2025.
The trader had previously drawn suspicion for making timely Bitcoin and Ethereum shorts just hours before Trump’s tariff announcement caused price drops.
Some believe the trader must have known about the pardon beforehand.
Garett Jin Denies Wallet Ownership
Onchain investigator Coffeezilla commented, “It looks like obvious insider knowledge,” in a post with 736,600 followers. He shared insights from Eye, another investigator who claimed to know more than he revealed.
Former BitForex CEO Garrett Jin has denied being connected to the wallet involved in Bitcoin shorts initiated shortly before Trump announced a “100% tariff on China” on October 10.
Jin stressed he had “no ties with the Trump family” and dismissed insider trading allegations after claims that he controlled a wallet linked to Bitcoin shorting.
In another post on October 13, he stated, “The fund isn’t mine — it’s my clients’. We provide insights for them.”
Market Reactions Suggest Predictability
Swan Desk CEO Jacob King commented on X, stating that the pardon was predictable and claimed to have earned $956,000 from betting on it. “Especially after CZ invested over $2B into WLFUSD Stablecoin— that was practically a pay-for-pardon signal,” King noted.
Source Jacob King
Meanwhile, crypto commentator Abbas expressed skepticism over the insider trading accusations, questioning why someone with presidential access would make a mere $56,000. He pointed out that the pardon was widely rumored and not unexpected.
