Trader Makes $200 Million Profit Shorting Bitcoin & Ethereum Before Trump Tariff Announcement

Garret Jin, a former BitForex CEO, reportedly profited around $160-$200 million by shorting both Bitcoin and Ethereum just prior to President Trump’s announcement of tariffs against China. This action had a significant impact on the crypto market, leading to substantial liquidations worth over $19 billion. The trade’s timing caused widespread market volatility as Bitcoin’s price plummeted, resulting in hundreds of thousands of accounts experiencing losses.