The same crypto trader who reportedly made over $190 million shorting the market ahead of U.S. President Donald Trump’s tariff announcement has once again drawn attention — this time for profiting from a bet that Trump would pardon Binance founder Changpeng “CZ” Zhao.
Onchain Data Links Trader to Pardon Bet
According to onchain analyst Euan, blockchain data on Etherscan links the trader’s wallet to a Polymarket account that placed wagers on a Trump pardon for CZ in 2025. The wallet reportedly earned $56,522 from the bet, adding to speculation that the trader may have prior access to sensitive political information.
This follows the trader’s previous success shorting Bitcoin (BTC) and Ethereum (ETH) just hours before Trump’s 100% tariff announcement on China — a move that sent crypto markets plunging to multi-month lows. Critics have suggested that such precisely timed trades were unlikely to be coincidence, reigniting concerns about insider activity in the crypto derivatives space.
Insider Trading Allegations Surface Again
Onchain investigator Coffeezilla described the trades as “looking like obvious insider knowledge” in a post on X, sharing additional data from other analysts suggesting unusual wallet behavior before both market-moving events. Another sleuth, Eye, implied the trader “knows something we don’t,” adding to public suspicion that the wallet belongs to a well-connected insider.
However, former BitForex CEO Garrett Jin, previously accused of controlling the address, once again denied any connection. Jin said he had “no ties to the Trump family” and clarified that the wallet in question belonged to his clients, not him personally. “We run nodes and provide in-house insights for them,” Jin wrote, rejecting all claims of insider trading.
Traders Claim the Pardon Was Predictable
Not everyone believes insider knowledge was required to predict the outcome. Swan Desk CEO Jacob King, who admitted making $956,000 betting on the same Polymarket event, said the pardon was “obvious.” King pointed to CZ’s $2 billion investment in WLFUSD Stablecoin, claiming it “practically screamed pay-for-pardon.”
Similarly, crypto analyst Abbas argued that the pardon “wasn’t an extremely unlikely event,” adding that the topic “has been spoken about forever.” He dismissed the allegations of insider trading as exaggerated, saying, “You really think someone with access to the President would risk that for $56k?”
A Familiar Pattern Emerges
Whether coincidence or calculated timing, the trader’s string of successful, high-impact bets continues to raise eyebrows across the crypto community. Both trades — shorting the Bitcoin crash and profiting from the CZ pardon — showcase how quickly fortunes can be made in markets that move at the speed of headlines.
With onchain transparency providing a glimpse into these controversial wins, the debate over insider activity in decentralized markets is far from over. For now, all eyes remain on the wallet that seems to be one step ahead of everyone else.