Trader who made $190M shorting crash also apparently bet on CZ’s pardon

A crypto trader, previously suspected of insider trading for making millions shorting Bitcoin and Ethereum just before President Trump's tariff announcement, has surfaced again for allegedly betting on Trump pardoning Binance founder Changpeng "CZ" Zhao. On-chain data suggests this trader won $56,522 on Polymarket by betting CZ would be pardoned in 2025. While some sleuths suggest this indicates further insider knowledge, others argue the pardon was predictable. For instance, Swan Desk CEO Jacob King stated the pardon was "obvious" and claimed he profited $956,000 betting on it, suggesting CZ's $2B investment into the WLFUSD Stablecoin signaled a potential 'pay-for-pardon.' Furthermore, crypto commentator Abbas questioned the insider trading claims, arguing that someone with access to the President wouldn't risk using insider info for a relatively small gain like $56k. Former BitForex CEO Garrett Jin has previously denied controlling the wallet address linked to the earlier shorting activity.

(Source：Cointelegraph)