Tariff Shock Wipes $19B in Crypto, 1.6M Traders Liquidated; BTC Quickly Rebounds

The tariff move by President Donald Trump has rippled through crypto: over $19B in leverage has been unwound, 1.6M traders have been liquidated, and Bitcoin has briefly fallen below $105,000 before rebounding above $114,000 as funding rates have turned negative and ETF inflows have steadied prices amid
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100,000 BTC Hyperliquid Whale Allegedly Linked to Former BitForex CEO in Fraud Scandal – “The fund isn’t mine”

On-chain investigator EyeOnChain allegedly identified the Hyperliquid whale controlling over 100,000 BTC as Garrett Jin, former CEO of collapsed exchange BitForex which conducted a suspected $56.5 million exit scam in February 2024, with Jin denying ownership stating “the fund isn’t mine.”
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