A noteworthy claim has come to the fore in the cryptocurrency market.
A whale wallet trading on decentralized derivatives exchange Hyperliquid deposited approximately $160 million worth of USDC, opening $1.1 billion in leveraged short positions on Bitcoin (BTC) and Ethereum (ETH), according to reports. These trades reportedly occurred approximately 30 minutes before US President Donald Trump announced 100% tariffs on China on October 10.
The positions in question were allegedly later closed, generating a profit of approximately $190 million to $200 million. However, there is no definitive evidence of insider trading.
According to data shared by YouTuber and researcher Coffeezilla, the whale opened its last short position, worth approximately $23 million, at 11:49 PM UTC on October 10th. Exactly one minute later, President Trump's statement threatening 100% tariffs on China followed. This announcement triggered the largest liquidation wave in the crypto market in years.
Some have claimed that the Trump family profited $192 million from these transactions, but there is no substantiated evidence to support this claim.
*This is not investment advice.