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BitForex Former CEO Denies Ties to Trump and Insider Bitcoin Bet
Last Updated: October 14, 2025
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Key Takeaways
- Garrett Jin, former BitForex CEO, denied claims linking him to a major Bitcoin short trade tied to a US tariff announcement;
- Jin said he had no connection to the Trump family and insisted the wallet involved belonged to a client, not him;
- ZachXBT suggested a person close to Jin may have placed the controversial $735 million trade.
The former head of the now-closed crypto platform BitForex, Garrett Jin, has responded to recent claims linking him to a controversial Bitcoin
A crypto researcher using the name Eye had suggested Jin was behind a large position that bet on Bitcoin’s price going down.
The claim centered on a specific crypto wallet. According to Eye, that wallet was used to place a large short trade on Bitcoin before the US President announced a steep import tax on Chinese goods.
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Jin addressed the matter through a post on X on October 13, where he denied all involvement.
He also stated that he has no relationship with the Trump family and rejected the idea that he had any inside knowledge of the tariff announcement.
Additionally, Eye claimed Jin had control over a wallet with more than 100,000 BTC in trading power.
Jin responded by saying the wallet in question belonged to a client, not him. He also criticized Changpeng Zhao for reposting Eye’s claims, as it spread private information to millions of followers without verifying the facts.
Despite the wallet’s role in a trade estimated at $735 million, not everyone agreed with Eye’s conclusions. Another crypto analyst, ZachXBT, suggested that someone connected to Jin was more likely responsible.
Meanwhile, a crypto trader recently turned a $3,000 investment into about $2 million after Zhao shared a new meme token on the BNB Chain called "4." How? Read the full story.
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