Compass Investments

– The wallet was tapped to open a short position less than an hour before U.S. President Donald Trump announced “100 percent tariffs on China” on Friday, likely triggering a sharp drop in the cryptocurrency’s price.

Eye suggested on Twitter on Saturday that Jin turns out to be a Hyperliquid whale who owns more than 100,000 BTC. Jin responded by saying the wallet belongs to a customer and criticized former Binance CEO Changpeng Zhao for sharing “personal and sensitive data, retweeting Eye’s post to his audience of more than 10 million followers.

Regardless of whether the wallet address is directly linked to Jin, it was used to open a $735 million short position in BTC. Bitcoin’s price briefly dipped to around $102,000 after the tariffs were announced on Friday, though the president noted on social media on Sunday that he “shouldn’t worry about China, retracting some of his earlier statements.

Despite the alleged link between Jin and a prominent bitcoin wallet, some Internet researchers are skeptical of Eye’s claims. ZachXBT reported on Saturday that a “friend of Jin’s” is likely behind the transactions, while crypto analyst Quinten Francois suggested that the evidence presented linking the former CEO to the wallet seems a bit too convenient.

A number of employees of cryptocurrency exchanges have previously come under suspicion of possessing insider information about project launches after suspiciously timed transactions.

In March, an unidentified trader or group made more than $482,000 from transactions in the Bubb memcoin (BUBB) shortly before its price plummeted by about 50 percent.