October 10 will go down in crypto history as a day when traders were ravaged. It was more than a Black Swan event. It was an apocalypse, a day when even top altcoins melted, some dropping to as close as $0. Though HYPE price prediction, for example, are optimistic, the crypto market is still reeling from the sell-off. Some blame Donald Trump and White House insiders for accelerating this drop, while others squarely blame Binance, the world’s largest exchange, for all their woes and liquidations.
In the midst of all this, Hyperliquid, the decentralized perpetual exchange rapidly amassing volume and taking on the big boys, is also in the midst of the storm. Being a transparent exchange where every position can be monitored, Hyperliquid is the choice platform where a mega short position was placed by a well-placed and well-informed crypto whale minutes before the big drop.
A whale has opened a $750M, 10x leveraged $BTC short position. It's already $3.7M in the red and will be liquidated if $BTC climbs above $130,800.
What do they know?
pic.twitter.com/GbJwoXw54e
— Bitcoin Titan (@BitcoinTitann) October 10, 2025
Because of this link, there are now questions of whether the White House, Donald Trump, and rogue White House insiders were deliberately inclined to liquidate traders or if there is a scheme to boost Hyperliquid’s visibility directly.
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Donald Trump, China, Garret Jinn, And The October 10 Crypto Meltdown: The Link
To determine whether this is true or not, we have to look at the sequence of events before the October 10 meltdown.
China started it a day earlier by announcing new rules regarding the export of rare earth metals.
Less than 24 hours later, Donald Trump responded, posting on Truth Social that the United States will impose a +100% tariff on China, citing escalating trade tensions.
This “Trump Shock” quickly triggered an immediate market panic, which saw Bitcoin and some of the best crypto to buy slide from over $120,000 to around $102,000 before bouncing. As a result, over $19Bn (likely underreported) were quickly and forcefully closed across multiple perpetual exchanges.
The problem is, analysts noted something interesting just before Trump posted, declaring new tariffs on China: A whale linked to Garret Jinn, the former CEO of the defunct exchange BitForex, had opened a $735M BTC short via Hyperliquid roughly an hour before the news hit.
(Source: eyeonchains, X)
By the time BTC USD sank to $102,000, the wallet was deep in profits, as Jinn went on to net over $142M in realized BTC profits.
According to onchain sleuths, Jinn prefers trades with connection to Trump and the White House. Analysts say he also holds a long position on “Will Trump pardon CZ in 2025?” on Polymarket, a bet that’s gaining traction amid rumors of Trump considering a pardon for Changpeng Zhao.
(Source: emmettgallic, X)
Analysts claim it is no coincidence that Jinn could have placed a mega short on BTC minutes before Trump announced fresh tariffs on China and, at the same time, held a long position on another bet whose results depend entirely on the White House. One of them thinks he’s merely a frontman for a larger insider trading ring leaking White House information.
Changpeng Zhao shared analyses linking Jinn to the October 10 turbulence on X. However, Jinn quickly responded, saying he had no connection with the Trump family or the president and that his actions were not any form of insider trading.
The fund isn’t mine — it’s my clients’. We run nodes and provide in-house insights for them.
— Garrett (@GarrettBullish) October 13, 2025
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Is the White House Pumping Hyperliquid? HYPE Price Prediction To $50?
Whether the funds belong to Jinn or his clients, as he claims, is irrelevant for now. Crypto traders were decimated on Friday, and it may take another few weeks before BTC and top Solana meme coins trade at new October 2025 highs.
The fact that Jinn shorted BTC on Hyperliquid is why there are allegations that the White House could be backing the perpetual exchange, indirectly pumping HYPE prices.
However, there is no credible evidence, for now, linking Donald Trump or the White House. The trader, Jinn, denied any ties with the First Family, adding that funds belong to clients, not him.
Still, the involvement of the White House, the Trump Family, and a highly controversial topic associated with high-level crypto price manipulation, where the source is Hyperliquid, has brought more visibility to the perpetual exchange.
HYPE crypto is in red at press time, and reversed sharply from October 13 highs. If HYPE USDT finds support above $30, HYPE crypto prices might recover to as high as $50.
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Is White House Pumping Hyperliquid? HYPE price prediction to $50?
- October 10 was a crypto Black Swan day, over $19bn liquidated
- Mega whale opened a near $1Bn short on Hyperliquid
- Crypto prices crashed after Trump announced new tariffs on China
- HYPE price prediction: HYPE crypto to $50?
The post Is The White House Pumping Hyperliquid? Whale Denies Trump Insider Trading as HYPE Price Prediction Targets $50 appeared first on 99Bitcoins.
