Ethereum Wallet Nets $6.4 Million from Bitcoin Short
- An Ethereum wallet, linked to a former BitForex CEO, closed a massive Bitcoin short position on Wednesday, earning $6.4 million in profits.
- The wallet previously earned close to $200 million by shorting both Bitcoin and Ethereum earlier this month.
- This latest trade brings the wallet’s lifetime earnings to nearly $100 million on the Hyperliquid decentralized exchange.
- The address made a $30 million deposit of USDC to Hyperliquid just before opening the short position.
- The account is connected to Garrett Jin, who denies any insider information or connections to President Trump’s family.
A notable Ethereum wallet has been active in significant cryptocurrency trades, recently closing a large Bitcoin short position with precise timing that resulted in substantial profits. This activity follows earlier successful trades that capitalized on market volatility due to geopolitical events.
The account’s strategic trades have amassed nearly $100 million in total profits on Hyperliquid, showcasing its significant influence and financial acumen within the crypto market space.(Source)
