Business: A news has created a stir in the world of crypto and it involves the name of Barron Trump, the youngest son of President Donald Trump. Millions of dollars worth of Bitcoin were shorted in the US just hours before Trump’s decision to impose 100% tariffs on China on October 10. Bitcoin prices slipped immediately after this decision. The person who did this short reportedly made a profit of 160 million to 200 million dollars. The identity of that trader has not been revealed yet. But speculations are being made on social media that the trader is none other than Barron Trump.
This speculation has gained strength amid previous reports of Trump’s youngest son being involved in crypto trading. Many people believe that it was someone close to the Trump family to whom information about the policy decision was leaked. But, no confirmed report has emerged yet which shows that Barron Trump was not involved in this deal. On the other hand, a user named Jinnah identified himself as the trader behind the Bitcoin deal. He claimed that Trump’s family had no involvement in this deal.
It is noteworthy that after Trump’s announcement, there was an earthquake in the crypto market. All major cryptocurrencies saw a decline. Bitcoin fell from $125,000 to $105,000. However, as soon as the market opened on Monday, there was a sudden jump in their prices.
Bitcoin prices fall after Trump’s tariff decision
After the announcement of tariffs on China, the crypto market recorded its biggest decline in recent times. During this period, Bitcoin slipped by 8.4% and all major cryptocurrencies were affected. Crypto trading platform Coinglass reported that 1.6 million traders sold their positions on Friday. Due to this, $7 billion was wiped out from the market in one go. XRP was most affected by this fall and it slipped by 22.85%. Ethereum fell by 5.8% and Binance Coin fell by 6.6%.
Crypto investor found dead in his Lamborghini after fall
According to multiple Ukrainian media outlets, Ukrainian crypto investor and blogger known as Kostya Kudo, Konstantin Galish, was found dead inside his Lamborghini in the Obolon district of Kiev last Saturday following the crypto market crash. The death of 32-year-old Galish came just a day after the crypto market suffered its biggest recent collapse. The global cryptocurrency market collapsed after the US announced the imposition of 100% tariffs on China. Bitcoin, Ethereum and other major digital assets saw huge declines.
The news has been confirmed on Galich’s official Telegram channel. The channel reported that authorities are actively investigating the circumstances of his death. However, the exact cause of death has not been officially confirmed yet. The New York Post quoted Binance Square, a community platform for the crypto market, as saying that Galish died by suicide.
