- The mysterious trader who earned $190 million in early October’s crypto flash crash bagged $56K from successfully predicting CZ’s pardon on Polymarket.
- Was this due to a string of luck, or did the person have insider access in the White House?
The trader who made $190 million from shorting the market in history’s largest ever crypto liquidation is again at the crosshairs of speculations. Recently, various sources uncovered that the same person correctly predicted former Binance CEO Changpeng “CZ” Zhao’s pardon this year.
The anonymous trader reportedly pocketed $56K from a successful bet on Polymarket, a chump change compared to what he earned at the onset of the $19 billion crypto market liquidation early this month after the US intensified China’s trade sanctions. This reinforced suspicions of the person’s insider information in the government, with some even tying the account to President Donald Trump’s youngest child, Barron Trump.
CZ’s Pardon on Polymarket
One event that has gained plenty of interest in Polymarket’s prediction market platform is “Who will Trump pardon in 2025?” On Friday, the item already reached over $6.63 million in volume.
The event listed several personalities that the US president will likely pardon this year. Besides CZ, it also featured the recently commuted George Santos as well as others like former FTX CEO Sam Bankman-Fried, former Terraform Labs CEO Do Kwon, National Security Agency whistleblower Edward Snowden, Trump himself, Sean John (Diddy) Combs, and more.
The trader who immensely profited from the largest crypto flash crash was among the successful participants in the event. This sparked debate about whether the person was lucky or had inside access to Trump’s inner circle.
The Barron Trump Controversy
As of October 6, Forbes revealed that the 19-year-old Trump already had a net worth of $150 million. The Trump family notably credited him for teaching the US president about crypto, and he currently holds a co-founder status at the World Liberty Financial decentralized finance (DeFi) platform. Barron is now richer than his mother, First Lady Melania Trump, who only had a net worth of $20 billion at the time of the report. The crypto community is rife with speculations that President Trump’s youngest child exponentially increased his wealth this month.
The insider trading allegations against Baron Trump are mostly unsubstantiated. This was further dispelled by former Bitforex CEO Garrett Jin’s admission that he owned one of the largest shorts in the previous $19 billion crypto liquidations. Additionally, he denied involvement with the Trump family or having insider access in the White House. Nonetheless, these weren’t enough to quell public suspicions.
