8 ms·
Bitcoin Whale Shorted $1.1B Right Before Tariffs
- Finnucane 11mo agoit’s hard to believe anyone in this administration would something so blatantly corrupt.
- TacticalCoder 11mo ago[dead]
- jackmalpo 11mo agoit's not hard*
- jazzyjackson 11mo agothat's the joke.png
- deleted 11mo ago[deleted]
- jazzyjackson 11mo agoIt makes me want to riot that we've allowed the presidents whole family to leverage their wealth on Bitcoin, its such an outrageous conflict of interest, literally with a few million up front you stand to become unbelievably wealthy by yanking the USD's reserve currency status. Real monkeys paw action here tho because I always liked the idea of BTC as a viable alternate to USD, but, not like this.
- 1oooqooq 11mo agothey would have profited anyway. be it stocks or forex. using btc only makes it public i guess?
- jazzyjackson 11mo agocorruption is one thing, I would call it merely unfair (unfortunately not illegal) to trade with inside information or by pulling strings. Crashing the dollar for personal gain, tho, it's practically treason.
- immibis 11mo agoNot practically - crashing the dollar on purpose is actually treason.
- lesuorac 11mo agoStocks are public. There's a been a lot of people doing moves ahead of other tariffs announcements.
- pyuser583 11mo agoBitcoin is arguably more public than stocks - all transfers are publicized. Transactions on major stock markets are publicized, but private transactions are not.
- 1oooqooq 11mo agothey most definitely are not.
- lesuorac 11mo agoHow do you think the SEC finds it's insider trading cases? They see a giant position placed ahead of a movement in the market and then ask the exchange who placed those trades. The only difference between an exchange and crypto is that cypto you can also see.
- finghin 11mo agoPerhaps it makes the burden of proof for the accusation higher, though?
- colonCapitalDee 11mo ago
- jiggawatts 11mo agoAs someone looking in at the USA from the outside, it absolutely blows my mind that the country went from “give up the peanut farm” to this: https://en.wikipedia.org/wiki/$Trump https://en.wikipedia.org/wiki/$Trump Like… what!? I have no words.
- wredcoll 11mo agoIt is genuinely amazing how fast it feels like it happened. The whole monica lewisnky thing happened because there was an investigation into Clinton making maybe 100k off a partnership with a guy who later got arrested. Granted that was over 20 years ago now, but like, hillarys emails???
- billy99k 11mo ago[flagged]
- estearum 11mo agoThat's not what happened. What they said is that it was definitely a violation, there did not appear to be a chargeable crime.
- AnimalMuppet 11mo agoRegular people get charged for that level of violating regulations around classified information. They also get charged for having classified information in their bathroom or in their garage.
- estearum 11mo agoYeah agreed. I'm not sure any civilian politician would really be charged for that type of violation though. Would've been nice if the DNC apparatus didn't downplay as if it didn't matter at all though: it does! Note that this is actually quite different from the Mar-a-Lago case where Trump was asked to return documents, he said he did, then said he didn't have them, then asked people "what if we just said we didn't have them", then he was asked to return them again, and he said he didn't know anything about it.
- JuniperMesos 11mo ago[dead]
- anon191928 11mo agowait until you learn about where $trillions went in last decades of war.
- pants2 11mo agoWorth noting that this whale has/had $10B worth of Bitcoin. So his $27M in profits is a whopping 0.27% gain while the rest of his portfolio dipped 10%.
- gautamcgoel 11mo agoI'm confused: why would you short BTC if you knew in advance that additional tariffs would be announced? Wouldn't you expect that to increase the dollar value of BTC due to depreciation of the dollar?
- rhyperior 11mo agoIf only BTC were a decorrelated, alternative investment.
- rcxdude 11mo agoThis. It has not, in practice, turned out to be the hedge that people assumed that it was.
- Finnucane 11mo agoWhy would you expect anything with BTC?
- henry2023 11mo agoHating on Bitcoin was cool in 2015. It’s proven to be a reliable store of value asset, to the point that central banks are considering reserves on it. Bitcoin maybe as useless as gold, but that doesn’t make it more or less valuable.
- lern_too_spel 11mo ago> to the point that central banks are considering reserves on it. Specifically, central banks run by scammers and imbeciles. Nobody with any brains is going to put their reserves in something whose only value comes from the existence of greater fools and has the downside of propping up the North Korean government.
- pfannkuchen 11mo agoTangential, but I find it strange how bank “reserve” means something entirely different from what it used to mean.
- dmitrygr 11mo agoExpect to read about it here soon: https://www.quiverquant.com/congresstrading/politician/Nancy%20Pelosi-P000197 https://www.quiverquant.com/congresstrading/politician/Nancy...
- luxuryballs 11mo agoSo if the government itself is the one holding the bitcoin then you can bet it won’t investigate itself… and a few billion in bitcoin wouldn’t even go very far if they tried to use it as a funding source which is wild to think about.
- jwpapi 11mo agoI think Occams Razor. Here I think it’s way more likely that the person who holds 10B in Bitcoin somehow by now has contacts to the inner circle of US government as being someone in the administration.
- w10-1 11mo agoI'm grateful to those tracking and publishing this information, but as smoking guns go, the evidence doesn't seem particularly compelling. China announced their rare-earth restrictions on 10/9. Trump predictably over-reacts with tariffs on 10/10. The trader had plenty of reason to expect new tariffs, and some reason to expect Bitcoin to go down. If I were corrupt, I'd always make sure there was some justifying event in advance of my trade, even if I knew there was to be some precipitating event for a market swing. Plausible deniability.
- junto 11mo agoI wouldn’t be surprised if people connected to the Chinese government are not also taking advantage of the fact that Trump is extremely easy to trigger, manipulate and predict.
- bentt 11mo agoIt was Bernie. He's had enough of this horseshit.