A crypto whale that placed hundreds of 50x leverage long position bets on Bitcoin and Ether before US President Donald Trump announced a Crypto Strategic Reserve has profited nearly $7 million from the trades.
The whale deposited $5.9 million in USD Coin (USDC) on decentralized derivatives exchange Hyperliquid on March 1 to place the long positions, according to crypto analytics platform HyperDash.
The whale placed their first Ether (ETH) long position on March 2 at 2:49 pm UTC. Thirty-five minutes later, Trump announced the Crypto Strategic Reserve — nearly immediately causing an explosion in market prices.
Around $4 million was used to create $200 million worth of positions with the 50x leverage. The whale’s Ether positions from Ethereum wallet address ”0xe4d…02c62” started closing 16 minutes after Trump’s announcement, with some speculating whether insider trading was involved.
The whale started closing several Ether long…
