October 10th will go down in crypto history as the day traders were devastated. It was more than just a black swan event. It was an apocalyptic day, one where even the best altcoins melted away, with some falling close to $0. For example, HYPE’s price forecast is optimistic, but the crypto market is still reeling from the decline. Some blame Donald Trump and White House insiders for accelerating this decline, while others squarely blame Binance, the world’s largest exchange, for all the woes and liquidations.
In the midst of all this, HyperLiquid, a decentralized perpetual exchange that is rapidly increasing its trading volume and caters to major corporations, is also in the midst of the storm. HyperLiquid, a transparent exchange where you can monitor every position, is the platform of choice where huge short positions are placed by well-placed and well-informed crypto whales minutes before a big drop.
Whale opens $750 million with 10x leverage $BTC short position. The company is already in the $3.7 million deficit, which will be liquidated if the following happens: $BTC Over $130,800.
what do they know? 👀 pic.twitter.com/GbJwoXw54e
— Bitcoin Titan (@BitcoinTitann) October 10, 2025
This connection raises questions about whether the White House, Donald Trump, and rogue White House insiders were intentionally inclined to liquidate the traders, or whether there was a plan to directly raise HyperLiquid’s profile.
Discover: Best meme coin ICOs to invest in 2025
Donald Trump, China, Garrett Jin, and the October 10 Crypto Meltdown: The Link
To determine whether this is true, we need to examine the sequence of events prior to the October 10th meltdown.
The previous day, China announced and launched new rules for the export of rare earth metals.
Less than 24 hours later, President Donald Trump responded by posting on Truth Social that the US would impose +100% tariffs on China due to escalating trade tensions.
This “Trump shock” immediately triggered a market panic, causing Bitcoin and some currencies to plummet. Best cryptocurrencies to buy It falls from over $120,000 to about $102,000 and then rebounds. As a result, over $19 billion (likely underreported) was swiftly and forcefully shut down across multiple permanent exchanges.
The problem is that right before President Trump’s post announcing new tariffs on China, analysts made an interesting point. A whale connected to Garrett Zinn, the former CEO of defunct exchange BitForex, had opened a $735 million BTC short via HyperLiquid about an hour before the news broke.
(Source: eyeonchains, X)
By the time BTC USD had fallen to $102,000, Jin had realized over $142 million in BTC profits and the wallet was making a hefty profit.
On-chain detectives say Jin favors deals related to Trump and the White House. Analysts said he also held long positions. “Will President Trump pardon CZ in 2025?” The polymarket bet has drawn attention amid rumors that President Trump is considering pardoning Zhao Changpeng.
(sauce: Emmett Garrick, X)
Analysts argue that it is no coincidence that Jin was able to place a massive short on BTC minutes before President Trump announced additional tariffs on China, while simultaneously holding a long position in another bet whose outcome was entirely dependent on the White House. One of them believes he is just a frontman for a large insider trading ring that is leaking White House information.
Zhao Changpeng share We analyzed the relationship between Jin and the X turbulence on October 10th. However, Jin quickly answered: I’m saying He claimed he had no ties to the Trump family or the president and that his actions were not insider trading in any form.
The funds do not belong to me, they belong to my clients. We run nodes and provide internal insight into them.
— Garrett (@GarrettBullish) October 13, 2025
Discover: 9+ Best High-Risk, High-Return Cryptocurrencies to Buy in 2025
Is the White House promoting superliquidity? HYPE price prediction is $50?
Whether the funds belong to Jin or his clients, as he claims, is irrelevant at this point. Cryptocurrency traders were devastated on Friday, and it could take several more weeks for BTC to crypto trading to end. Top Solana Meme Coins It will trade at a new high in October 2025.
The fact that Mr. Jin shorted BTC on HyperLiquid is why there are suspicions that the White House may be supporting the perpetual trade and indirectly inflating the HYPE price.
But so far, there is no reliable evidence linking Donald Trump to the White House. Trader Jin denied any connection to the First Family, adding that the funds belonged to his clients and not to him.
Still, with the involvement of the White House, The highly controversial topic related to high-level crypto price manipulation by the Trump family and its source is HyperLiquid has further increased the visibility of Perpetual Exchange.
The HYPE cryptocurrency is in the red at the time of writing, a sharp reversal from its October 13th high. If HYPE USDT finds support above $30, HYPE crypto price could recover to $50.
Discover: 10+ The next cryptocurrencies will increase 100x in 2025
Is the White House promoting superliquidity? HYPE price prediction is $50?
- October 10th was Cryptocurrency Black Swan Day, with over $19 billion liquidated.
- Mega Whale launches nearly $1 billion short sale in Hyper Liquid
- Cryptocurrency prices plummet after President Trump announces additional tariffs on China
- HYPE Price Prediction: HYPE Cryptocurrency to $50?
99Why Bitcoin is reliable
Founded in 2013, 99Bitcoin’s team members have been cryptocurrency experts since the early days of Bitcoin.
90+ hours
weekly research
100,000 or more
monthly reader
50+
expert contributors
2000+
Crypto Projects Reviewed
Follow 99Bitcoins on Google News Feed
Get the latest updates, trends and insights at your fingertips. Subscribe now!
Subscribe now 
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
