A perfectly-timed $200 million crypto trade has sparked controversy and raised questions about potential market manipulation linked to the Trump family's growing influence in cryptocurrency markets.
The incident unfolded on Sunday when an anonymous trader placed a massive leveraged bet on Bitcoin and Ethereum, just moments before Donald Trump's social media announcements sent crypto prices soaring. The trader turned $4 million into over $10 million in profits through the Hyperliquid exchange platform.
The suspicious timing has led industry observers to speculate about connections to Trump's inner circle, particularly his sons Barron and Eric Trump, who are involved in family cryptocurrency ventures. The trade occurred during a market downturn caused by recent memecoin scandals and a major $1.5 billion hack.
Trump's posts on Truth Social revealed plans to include Solana, Cardano, and XRP in a proposed national crypto stockpile, followed by explicit support for Bitcoin and Ethereum. The announcements triggered an immediate market rally, with Bitcoin jumping 11% to $94,770 and Ethereum surging 16% to $2,542.
"This may be the boldest single trade I have ever witnessed," noted a Bitcoin developer on X, suggesting the timing was more than coincidental.
The incident highlights growing concerns about market manipulation as the Trump family expands its cryptocurrency influence. While no direct evidence links the trade to the Trumps, the episode has left many in the crypto community questioning the fairness of market movements tied to political announcements.
Ironically, blockchain analysts noted the trader could have earned substantially more by holding their position through Trump's second announcement, suggesting either imperfect insider knowledge or simple lucky timing.
The event adds to mounting tensions in the cryptocurrency space as political figures increasingly impact market dynamics, potentially undermining the decentralized principles that originally defined digital currencies.