Garrett Jin Nets $56K Profit on Trump-CZ Pardon Bet

Blockchain data indicates Jin’s high-return wager on Trump pardoning Binance founder CZ continues his track record of lucrative speculative trades.

TRUMP

Summary

Garrett Jin, linked to the '1011 Whales' crypto address, wagered $28,677 on Polymarket that Donald Trump would pardon Binance founder Changpeng Zhao. Since September 28, the bet has yielded $56,824 in profit, marking a 198% return, according to blockchain analyst Ai 姨. This follows Jin’s previous $200 million profit from a large short position before the October 11 market crash, which drew insider trading speculation.

Terms & Concepts
  • Polymarket: A decentralized prediction market platform allowing users to wager on the outcomes of real-world events using cryptocurrency.
  • Short Position: An investment strategy where traders sell assets they do not own, betting their price will decline to buy them back at a lower cost.
  • Insider Trading: The illegal practice of trading on the stock market using confidential, non-public information.