Main Highlights
- An independent investigator, known as Eye, has reportedly implicated members of World Liberty Financial, including Donald Trump Jr., in alleged insider trading related to the Hyperliquid controversy.
- Conversely, the investigator has cleared Garrett Jin of direct involvement in the short trading activities on Hyperliquid, suggesting he may have been a frontman.
- Leaked information, allegedly originating from aides with access to the POTUS, is believed to have been shared with a group of insiders to facilitate favorable trading positions.
Allegations Surface in Hyperliquid Controversy
An on-chain investigator, operating under the pseudonym Eye, has reportedly presented findings suggesting that key individuals associated with World Liberty Financial (WLFI), a U.S. venture connected to President Donald Trump’s family, are involved in the recent Hyperliquid controversy.
It is important to note that these allegations are based on the research of Eye, an independent on-chain investigator, and have not yet been officially confirmed by governmental authorities.
The investigation points to a scenario where advanced information regarding President Trump’s tariff announcements was allegedly shared by aides with access to the President. This information was reportedly passed on to a group of insiders, enabling them to establish highly advantageous trading positions.
Hyperliquid Whale Activity Precedes Tariff Announcement
Reports from on-chain investigators suggest compelling evidence of a substantial bet placed on the Hyperliquid exchange utilizing leaked information, commonly known as insider trading. This occurred shortly before President Donald Trump announced imposing 100% tariffs on Chinese imports.
Following this announcement, the whale who executed this short position reportedly profited over $150 million as the market experienced a significant downturn. This market event resulted in the liquidation of $1.1 billion in positions held by other traders on the platform.
The case gained public attention when an on-chain investigator, Eye, published a thread on X detailing how privileged information appeared to have moved from the White House corridors to private cryptocurrency traders.
The investigator’s post on X stated: After posting the White House pictures, I have been contacted by various entities and after further researching, I decided to compress everything into a new post. It appears that some of the privileged info obtained by parts of the Hyperliquid whales shorting before the announcement came by tracking an insider ring of crypto traders inside the White House.”
This revelation has fueled discussions within the crypto community, suggesting that the market crash on October 11 might not have been a random occurrence but a pre-meditated event orchestrated by individuals possessing advance knowledge, potentially through internally leaked information concerning tariffs on China.
The cryptocurrency market experienced a sharp and sudden decline immediately after President Trump announced substantial tariffs on China. The price of Bitcoin plummeted from approximately $125,000 to below $102,000 within minutes.
This dramatic price drop triggered a cascading effect of automatic sell-offs, known as liquidations, on the Hyperliquid platform.
This is where the Hyperliquid whale’s actions become central to the narrative. The whale had deposited a substantial amount of USDC stablecoin as collateral. Just minutes prior to President Trump’s announcement on social media, this whale initiated multiple high-leverage short positions against Bitcoin and Ethereum.
4/ The information is forwarded by aides with access to the POTUS to a group of insiders to open extremely favorable trading positions. The names leading the operation are Zach Witkoff and Chase Herro. pic.twitter.com/TUkJCWo67F
— Eye (@eyeonchains) October 13, 2025
On-Chain Sleuth Implicates Trump’s Associates in Insider Trading
Initial speculation circulated online suggesting that Garrett Jin, the former CEO of the now-defunct cryptocurrency exchange BitForex, was the whale behind the short trading on Hyperliquid. However, Jin publicly refuted these claims via a tweet.
Hi @cz_binance, thanks for sharing my personal and private information. To clarify, I have no connection with the Trump family or @DonaldJTrumpjr — this isn’t insider trading.
— Garrett (@GarrettBullish) October 13, 2025
Eye, the investigator, has also stated that Garrett Jin does not appear to be the primary actor in these alleged insider trading activities. The investigator suggested Jin might have been a frontman, and his involvement served as the initial lead in tracing the broader insider trading network.
In a subsequent update, the investigators affirmed that the critical information provided to the Hyperliquid whale most likely originated from a circle of insiders who have allegedly made a practice of leveraging confidential information from White House rumors and official announcements ahead of time to their advantage.
The investigators further claimed that this information was disseminated by aides with access to the POTUS to a group of insiders to open extremely favorable trading positions.
During their investigation, Eye disclosed two names involved: Zach Witkoff and Chase Herro. The investigator also reportedly implicated Donald Trump Jr., the U.S. President’s eldest son, in these insider trading activities. All these individuals are reportedly connected to the World Liberty Financial project, an entity that promoted itself with the slogan decentralized financial liberty.
Citing potential risks, Eye indicated a temporary pause in their investigation, tweeting: I went too deep in the rabbit hole, and I don’t feel it’s safe for me to keep going.
Expert Summary
An on-chain investigator has presented allegations linking World Liberty Financial members, including Donald Trump Jr., to insider trading on Hyperliquid, leveraging leaked information about U.S. tariffs. While Garrett Jin has been cleared of direct involvement, the investigator suggests information was passed from White House aides to a select group of insiders.