A Trump-Linked Whale Places $430M BTC and ETH Long Ahead of Fed Rate Decision
A crypto trader reportedly linked to former President Donald Trump has made a significant move in the digital asset markets by opening a $430 million leveraged long position in Bitcoin (BTC) and Ethereum (ETH). This bold bet comes just one day before the U.S. Federal Reserve is set to announce its next interest rate decision.
### Whale’s Winning Streak and Recent Moves
According to trading data, this whale—known for remarkable market timing—initiated the long position as the Federal Open Market Committee (FOMC) began its two-day meeting on October 28. The trader has recently exited $86.6 million worth of Bitcoin shorts, booking a profit of approximately $2.38 million.
This entity has reportedly maintained a 12-trade winning streak, drawing attention for its ability to align crypto trades with significant political and economic events. For instance, earlier this month, the same whale opened a $255 million long position around the time Donald Trump confirmed a meeting with China’s President Xi Jinping at the APEC summit.
### Markets Eye 25bps Fed Rate Cut
Investors and traders are closely watching the Federal Reserve’s expected decision on October 29. Most analysts predict a 25 basis point (bps) rate cut, which would lower the federal funds rate to a range between 4.00% and 4.25%.
According to prediction platform Polymarket, 98% of traders expect such a cut. The Fed’s announcement will occur at 2:30 PM ET, followed by a press briefing from Chairman Jerome Powell.
Earlier in 2023, the Fed cut rates, and another reduction could influence both traditional and crypto markets. Lower interest rates typically decrease returns on safer assets, potentially driving more capital into riskier assets like cryptocurrencies, which the whale’s position appears to anticipate.
### Trump Media Launches Truth Predict to Enter Prediction Market
Separately, Trump Media & Technology Group has announced the launch of **Truth Predict**, a new platform targeting the $9 billion prediction market industry. Truth Predict will let users place wagers on various topics, including elections, economic events, and sports.
Devin Nunes, CEO of Trump Media, said, “We’re democratizing information and empowering everyday Americans to harness the wisdom of the crowd.” The platform is currently in testing ahead of its planned launch in the U.S. and internationally.
Truth Predict will be supported by Crypto.com Derivatives North America, continuing the partnership between these companies which previously worked together on ETFs under the Truth.Fi brand. This new platform aims to rival existing prediction market leaders like Polymarket and Kalshi, both of which have recently experienced record user activity.
### Expanding Crypto-Political Partnerships
Trump Media continues to deepen its ties with the digital asset space. Recently, it formed a Cronos Treasury by acquiring around 684 million CRO tokens, valued at approximately $105 million. This move further cements collaboration between the Trump business network and Crypto.com.
Kris Marszalek, CEO of Crypto.com, is said to have strong business relations with the Trump family, with the exchange playing an increasingly important role in digital asset strategies linked to the administration.
Additionally, major Wall Street firms such as CME Group and Intercontinental Exchange are also exploring opportunities in the prediction market arena, signaling growing institutional interest.
### Conclusion
As the Fed’s interest rate announcement approaches, the significant $430 million BTC and ETH long position by a Trump-linked whale highlights strong market speculation on monetary policy and its impact on cryptocurrencies. Coupled with emerging ventures like Truth Predict, these developments underscore the growing interplay between crypto trading, politics, and major market events—trends that investors and observers will continue to watch closely.
https://coincentral.com/trump-insider-loads-430m-btc-and-eth-long-before-fed-rate-cut-decision/