October 24, 2025 — Crypto Markets:
A cryptocurrency trader who previously profited by shorting Bitcoin and Ethereum just before former U.S. President Donald Trump’s tariff announcement appears to have gained again by betting on Trump pardoning Binance founder Changpeng “CZ” Zhao.

On-chain investigator Euan cited Etherscan data linking the trader’s wallet to a Polymarket account, reportedly netting $56,522 by wagering that Trump would issue the pardon sometime in 2025.

Allegations of Insider Knowledge

The trader had already drawn attention in crypto circles for timing short positions on Bitcoin and Ethereum mere hours before Trump announced a 100% tariff on China, prompting sharp market declines. Observers suggest the Binance pardon trade could indicate access to privileged information.

“Looking like obvious insider knowledge,” said on-chain investigator Coffeezilla on X, resharing a post from sleuth Eye, who claimed to know details others do not.

Former BitForex CEO Garrett Jin has denied any connection to the wallet. Jin stated the Bitcoin short was executed for client funds and denied any insider trading or ties to the Trump family.

“The fund isn’t mine — it’s my clients’. We run nodes and provide in-house insights for them,” Jin wrote on X on October 13.

Market Opinions on the Pardon Bet

Some market participants downplayed the idea of insider trading. Swan Desk CEO Jacob King noted that the pardon “was obvious” and disclosed he personally profited $956,000 betting on the outcome, citing CZ’s $2 billion investment into WLFUSD stablecoin as a potential signal.

Crypto commentator Abbas also questioned the allegations, noting that the pardon was widely anticipated and not a highly unlikely event.

“You really think someone with access to the President of the United States would use insider information to make $56k?” Abbas said.

The situation highlights the growing scrutiny around crypto derivatives and prediction markets, where timing and information can result in significant gains — and sometimes raise questions of legality and ethics.