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Trader Earns $88M Shorting Bitcoin Before Tariff Announcement

10/12/2025

38 7 Full Breakdown

Summary

Trader Profits from Tariff

An anonymous trader reportedly earned $88 million by shorting Bitcoin 30 minutes before President Donald Trump's tariff announcement.
The move coincided with the largest crypto liquidation on record, as Bitcoin fell 17% and lost over $19 billion.
Critics suspect insider trading as the trader opened the position shortly before the announcement.
Analysts warn the November 1 tariff deadline may trigger further market volatility.

Summary

BitMine Acquires Ethereum

BitMine Immersion Technologies acquired 23,823 ETH for about $103.7 million, bringing its total to more than 2.87 million ETH currently valued at roughly $12.6 billion.
Kerrisdale Capital has shorted BitMine.
Kerrisdale Capital labeled BitMine's treasury model outdated.
BitMine's stock declined about 1.5% today.
Ethereum's price has fallen to around $4,342.

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Trader Profits from Tariff

An anonymous trader reportedly earned $88 million by shorting Bitcoin 30 minutes before President Donald Trump's tariff announcement.
The move coincided with the largest crypto liquidation on record, as Bitcoin fell 17% and lost over $19 billion.
Critics suspect insider trading as the trader opened the position shortly before the announcement.
Analysts warn the November 1 tariff deadline may trigger further market volatility.

1 / 2