“Crypto Whale’s $7M Trump Bets: Luck or Foul Play?”
In the grand theater of cryptocurrency, a behemoth of a trader, with the cunning of a fox and the boldness of a lion, placed their bets with the precision of a master chess player. This crypto whale, armed with hundreds of 50x leverage long positions on Bitcoin and Ether, reaped a bountiful harvest of nearly $7 million, all before the great Trump declared a Crypto Strategic Reserve.
On the first day of March, this whale deposited a staggering $5.9 million in USD Coin (USDC) onto the decentralized derivatives exchange Hyperliquid, as observed by the ever-watchful eyes of HyperDash.
At 2:49 pm UTC on March 2, the whale made their first move, placing an Ether (ETH) long position. Just thirty-five minutes later, Trump’s announcement sent the market into a frenzy, prices soaring like a rocket 🚀.
With $4 million, this cunning creature created positions worth a staggering $200 million, thanks to the 50x leverage. The whale’s Ethereum wallet, “0xe4d…02c62,” began to close positions just 16 minutes after Trump’s declaration, sparking whispers of insider trading in the shadows.
The first Bitcoin (BTC) long position was placed on March 1 at 10:44pm UTC, when Bitcoin was trading around $86,033. Many positions were then closed between $87,512 and $91,399, with some closures occurring before Trump’s announcement.
Most of the whale’s positions have now been closed, leaving them with a profit above $6.8 million, according to HyperDash.
However, it is worth noting that Trump’s first post about the Crypto Strategic Reserve only confirmed XRP (XRP), Solana (SOL), and Cardano’s (ADA) inclusion.
Almost two hours later, Trump revealed that Bitcoin and Ether were not only included but would be the “heart of the reserve.” Between these two revelations, Bitcoin and Ether’s prices rose, though not as dramatically as the other initially mentioned tokens.
Insider Trading? The Speculators Weigh In
The 50x leverage was a double-edged sword, as a mere 2% price fall in Bitcoin or Ether would have led to liquidation. This led the punditry to speculate, was insider trading at play? 🤔
Carl Moon, the founder and host of The Moon Show, exclaimed: “This $200 million long on Bitcoin and Ethereum before the Bitcoin strategic reserve announcement, could be the biggest INSIDER TRADE I’ve ever seen.”
“Smells illegal.”
One X user mused that the trader would have bet on other tokens had they known about Trump’s impending announcement. Crypto researcher “FatMan” responded:
“I don’t know if it was an insider or not, but it’s also possible for an insider to know the tweet is coming but not know the exact contents of the tweet.”
The Crypto Strategic Reserve came after weeks of evaluation by the President’s newly formed Working Group on Digital Assets, led by executive director Bo Hines and David Sacks, the White House’s AI and crypto czar.
Trump is set to host the first White House Crypto Summit on March 7, inviting industry leaders to meet with the Working Group’s Bo Hines and Trump’s AI and crypto czar David Sacks, to discuss regulatory policies and stablecoin oversight, among other things.
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2025-03-03 06:52