On-chain data suggests the same trader who profited from Bitcoin’s crash made $56,000 betting on Donald Trump’s pardon of Binance founder Changpeng Zhao — sparking debate over insider access.
A Controversial Winning Streak Raises Eyebrows
A mysterious crypto trader who allegedly made $190 million shorting Bitcoin and Ethereum ahead of the US tariff announcement by President Donald Trump has once again drawn attention — this time for profiting from a political prediction market. On-chain data indicates that the same wallet made $56,522 on Polymarket by betting that Trump would pardon Binance founder Changpeng “CZ” Zhao in 2025.
This sequence of well-timed trades has led many in the crypto community to question whether the trader is operating with insider knowledge or simply possesses an exceptional sense of timing.
Insider Knowledge or Coincidence?
On-chain researcher Euan first flagged the wallet’s transactions, suggesting a possible link between the high-profile market short and the CZ pardon bet. Crypto investigator Coffeezilla called the trades “looking like obvious insider knowledge,” while another on-chain analyst known as Eye claimed the trader “knows something we don’t know.”
However, not everyone agrees with that interpretation. Former BitForex CEO Garrett Jin, who had been speculated to control the wallet, denied any involvement. “I have no connection with the Trump family and the fund isn’t mine — it’s my clients’,” Jin said, clarifying that his firm “runs nodes and provides insights” for investors.
Market Analysts Say the Bet Was Predictable
While the timing raised suspicion, several market commentators argue that Trump’s pardon of CZ was expected. Swan Desk CEO Jacob King revealed he also profited — earning $956,000 from a similar bet — and called the outcome “obvious.”
“After CZ invested over $2 billion into WLFUSD Stablecoin, the pardon seemed inevitable,” King explained.
Crypto commentator Abbas dismissed the insider trading theory, stating, “You really think someone with access to the President would use insider info to make $56k?” He emphasized that discussions around a possible CZ pardon had circulated for months, making it far from an unforeseen event.
The situation has divided crypto circles between those who see a pattern of privileged access and those who believe in strategic foresight. Regardless of motive, the wallet’s consistent success underscores how political moves and on-chain transparency intersect in modern crypto trading, where even a rumor can move millions — or make them.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.