The mysterious trader who gained notoriety earlier this month for perfectly timing short positions before President Donald Trump’s tariff announcement is once again in the spotlight – this time for allegedly cashing in on a political wager tied to Binance founder Changpeng “CZ” Zhao.
Blockchain investigators have traced a Polymarket account that earned over $56,000 betting that Trump would pardon Zhao in 2025 to the same wallet used in a previous series of well-timed Bitcoin and Ethereum shorts. The link was first flagged by onchain analyst Euan, who shared evidence through Etherscan records connecting the two sets of transactions.
bigwinner01 was funded by ergeignis.eth who was seen interacting here a wallet associated to the billion dollar hyperliquid whale.https://t.co/dDNp1xAF83
— Euan (@euanker) October 23, 2025
For many in the crypto community, the coincidence was too convenient to ignore. The trader’s earlier bets – placed just before Trump announced a 100% tariff on Chinese goods- had already led to whispers of insider knowledge. Now, another profitable move tied to political news has reignited suspicions that the trader may have access to information unavailable to the public.
Denials and Defenses
Rumors soon began circulating that Garrett Jin, the former CEO of BitForex, was behind the wallet. Jin has repeatedly denied the accusations, stressing that the funds and trades are tied to clients, not personal accounts. “We run infrastructure and provide analytics. Those trades aren’t mine,” he stated on X. Jin also dismissed any suggestion of political connections, calling claims of links to the Trump family “ridiculous.”
Still, onchain detectives remain unconvinced. Popular investigator Coffeezilla reposted the data to his 736,000 followers, saying the wallet’s activity “looks like textbook insider knowledge.” Others, like pseudonymous sleuth Eye, added that “someone clearly knows something we don’t.”
Divided Reactions in the Crypto Community
While skepticism runs high, not everyone believes foul play is involved. Jacob King, CEO of Swan Desk, said the outcome was “plainly foreseeable,” revealing he too made a fortune – early $1 million – n the same pardon bet. “After CZ poured billions into the WLFUSD stablecoin, it was obvious he’d be in good standing with the administration,” King argued.
Others found the accusations far-fetched. Market analyst Abbas questioned why anyone with genuine presidential-level access would risk exposure for a mere $56,000 gain. “The pardon was being discussed for months,” he said. “It wasn’t exactly a wild guess.”
Today is a good day, I made $956K in profit on Polymarket betting that Trump would pardon CZ.
It was obvious, especially after CZ invested over $2B into WLFUSD Stablecoin. That move practically screamed pay-for-pardon. pic.twitter.com/Zvjkw5I4wU
— Jacob King (@JacobKinge) October 23, 2025
The Rise of Political Trading on Blockchain
The controversy spotlights a growing phenomenon in digital finance: onchain prediction markets where users wager on political and economic outcomes. Platforms like Polymarket have become hotspots for traders speculating on events that can ripple through crypto prices – from elections to regulatory decisions.
As the line between political influence and crypto speculation blurs, the story of this trader underscores a broader question: are these platforms a transparent window into sentiment, or a playground for those with privileged information?
For now, the identity behind the wallet remains a mystery. But with every perfectly timed trade and political prediction, the trader’s legend – and the suspicion surrounding it – continues to grow.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/trader-who-shorted-bitcoin-before-tariffs-also-bet-on-changpeng-zhao-pardon/