Original｜Odaily Planet Daily (@OdailyChina)
If someone told you they could predict the market's direction with 100% accuracy, would you believe them?
I certainly wouldn't, but there are indeed such people in reality—in the past 10 days, a certain whale has accurately predicted every market turn, achieving a 12-game winning streak and accumulating profits of over $12.6 million, with their success closely tied to statements or actions from U.S. President Trump. It's no wonder that many speculate this whale has strong connections with Trump's faction. Moreover, there is not just one such "insider whale"; another whale profited nearly $200 million by shorting during the "10·11 crash" is also among them.
Odaily Planet Daily will provide a brief analysis of the operations of these major insider whales and their suspected identities for readers' reference.
Frequent Appearances of Crypto Whales: Are They White Gloves or Insiders?
It is worth mentioning that this "crypto whale mystery" differs from previous instances in two ways:
First, the insider addresses are no longer singular; multiple addresses may be involved in insider trading operations.
Second, the insider whales not only chose to profit through Hyperliquid but also placed bets on related events in the prediction market Polymarket.
Overview of Insider Whale Addresses: Someone Achieved a "12-Game Winning Streak"
Unlike the "Hyperliquid 50x leverage whale" @qwatio mentioned in our previous article “Whales Perform Publicly in the New Paradise Hyperliquid, Trading Power and Attention Reunite”, recent insider whale operations have been more frequent and bolder. Moreover, the timing of several whales' trades coincides remarkably with Trump's public statements, which is why the market currently suspects they are likely insiders.
Specifically, the current "notable package" of insider whale addresses can be categorized as follows:
First, the address 0xb317D2BC2D3d2Df5Fa441B5bAE0AB9d8b07283ae, which we previously detailed in the article “The Whale Blade Battle Behind the Largest Liquidation Day in Crypto History: The Bears Feast, Then Leave”, so we won't elaborate further here;
Second, the associated address 0x2ea18c23f72a4b6172c55b411823cdc5335923f4; this address closed nearly 30,000 ETH shorts on October 11, profiting approximately $72.32 million.
All of the above addresses concentrated their deposits on October 10, opening large shorts on the eve of Trump's announcement of unfavorable tariff news, and gradually closed their positions for profit on the 11th.
Third, the address 0xc2a30212a8DdAc9e123944d6e29FADdCe994E5f2; according to on-chain analyst Ai Yi's monitoring, this whale has achieved a 12-game winning streak since October 14, accumulating profits of $12.634 million. The most recent profit occurred early this morning. Influenced by news of the U.S.-China leaders' meeting, BTC briefly broke $111,000, and this whale closed BTC, ETH, and SOL long positions, earning a total of $1.774 million, with BTC profit at $1.271 million, ETH at $357,000, and SOL at $146,000.
Insider Whales Open New Battleground: Can Polymarket Also Yield Stable Profits?
In addition to on-chain Perp DEX platforms like Hyperliquid, insider whales seem to have found a "wealth code" in prediction markets like Polymarket.
Last night, following a report from The Wall Street Journal about CZ receiving a pardon from Trump, related bets on Polymarket were quickly settled.
According to Polymarket data, Hyperliquid whale Garrett Jin's associated account “bigwinner01” started betting on "Trump will pardon CZ" on September 28, with a total investment of $28,677.33, yielding $56,824.32 in profit, with a nearly 100% profit rate. This event was also confirmed by well-known YouTuber and investigative journalist Coffeezilla's retweet.
It must be said that in the face of powerful figures who hold key information and can easily manipulate outcomes, retail investors once again become the "leeks" harvested by information asymmetry.
Mystery Behind Insider Whale Identities: Is Garrett Jin Just a Frontman? Is the Real Boss WLFI Co-founder?
As for the true identity of the insider whales, based on existing information, it may ultimately point to the WLFI team's co-founder and Trump's youngest son, Barron.
Public Information: Garrett Jin as the Frontline Whale
Previously, community speculation suggested that the whale who opened a massive short position three days in advance on Hyperliquid and profited $200 million was likely Bitforex co-founder Garrett Jin, as this whale's address had previous connections to Garrett Jin. Last month, an address that directly received ETH gas from this whale sent 40,000 USDT to Garrett Jin.
On-chain detective Eye subsequently published evidence supporting the high likelihood of this speculation, stating that "Garrett Jin immediately modified his Telegram privacy settings after being exposed in a post, hiding previously public photos and phone numbers; he also removed @XHash_com from his profile, just as he removed that information from his X profile after being exposed in a post by @emmettgallic."
On-chain analyst MLM also pointed out that the whale who sold over $4.23 billion in BTC to switch to ETH is highly credible as Garrett Jin, but raised some questions, including: Why would Garrett expose his identity through an ENS domain? Why did CZ personally post to verify the authenticity, as he used Binance, which should have KYC information available; and why would a "working person" possess tens of billions in BTC?
On October 13, Garrett Jin directly responded to market rumors, clarifying that he has no relationship with the Trump family or young Trump—this is not insider trading; the related funds do not belong to him but are client assets for running nodes and providing internal research and insights.
Of course, the market did not buy this.
The Real Boss Behind the Insider Whales May Be WLFI Co-founder?
On October 14, on-chain detective Eye published a statement regarding the "insider whale trading," revealing that sources indicated Garrett Jin may not be the main operator but rather a "frontman" for an insider organization. The information may come from insiders who have long utilized rumors and policy forecasts from the White House for trading. It is said that the information was relayed by aides close to the U.S. presidential team to a group of traders with privileged information to establish favorable positions in advance. The core individuals confirmed to be involved are Zach Witkoff and Chase Herro, with Trump's eldest son also suspected of participation.
Finally, Eye emphasized: "For personal safety reasons, this will be my last report on this incident."
It is evident that even seasoned on-chain detectives know the depths of this situation, which has reached a point beyond their control.
Interestingly, just before and after the insider whales took profits, Trump's youngest son, who is also a member of WLFI, Barron, made headlines by purchasing a $500 million super yacht, leading to market speculation that it might be funded by users liquidated in the crypto market.
Conclusion: The Crypto Market Never Sleeps on Insider Trading
It is certain that the recent whale trading operations are not the first actions of insiders, nor will they be the last. In the ever-changing crypto market, insider information has always been a coveted element. However, the ones ultimately paying the price are the users betting with real money in the market.
In a sense, when Trump becomes a political and business figure who is both the "referee and the player," the outcome is already predetermined.
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