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A Hyperliquid trader who earned $150 million from Friday’s crypto crash has opened a new $160 million short on Bitcoin.
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The timing of their earlier trades sparked speculation of insider knowledge tied to Trump’s tariff announcement.
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Analysts have debated possible links between the whale and former BitForex CEO Garrett Jin.
Massive New Short Position
A trader on Hyperliquid, who reportedly earned over $150 million from a well-timed short bet during Friday’s crash, has opened another major position. The trader placed $16 million into a 10x leveraged short on Bitcoin, totaling over $160 million in notional value.
According to HypurrScan data, the new trade was entered around $117,370 per BTC, with a liquidation level near $123,500. Bitcoin has since fallen to about $114,400, giving the trader an unrealized profit of roughly $4 million.
Timing Sparks Debate
The whale’s earlier trades, made just before President Trump announced new 100% tariffs on Chinese imports, caused Bitcoin and Ethereum prices to tumble. The trader shorted both assets one minute before the announcement, leading some to speculate about insider knowledge.
YouTuber Coffeezilla noted on X that the final short order came “exactly one minute” before Trump’s post — a coincidence many found suspicious.
Unproven Theories Around Identity
Some onchain analysts have suggested possible ties between the whale and Garrett Jin, former CEO of BitForex, which shut down in 2024 after a $57 million outflow. However, these links remain unconfirmed.
Analyst ZachXBT said the evidence was weak, describing it as “unconfirmed theories.” Jin himself has not commented publicly on the matter.
