Nicole Lapin

The infamous trader reports are saying it's Garrett Jin, a crypto guy who ran BitForex shut down in 2024 after around $56 million deposits vanished.

Now he's back in the headlines with this trading story.

He says there was no insider trading and that he's not even connected to the Trump family.

He said that everyone throwing around insider trading allegations are ignoring the reality that we are escalating tensions between the United States and China.

He just made a good, smart bet.

TBD on that.

The reason this short trade did so well was because the market did not like Trump's announcement of 100% tariffs.

On Friday, the Dow fell nearly 2%, the S&P 500 dropped nearly 3%, and the Nasdaq fell

3.5%, which was not amazing.

But then on Sunday, President Trump posted on social, don't worry about China, it will all be fine, exclamation point.

And Treasury Secretary Scott Besant said that the trade talks between the U.S.

and Chinese negotiators were ramping up.

The stock market came roaring back on Monday, having one of its best days of the year.

And then another bump on the

On Tuesday, the United States and China began charging additional port fees that affect everything from manufactured goods to crude oil.

And that made markets stumble again.

So even with these setbacks, the market has hit high after high.

And it's making some people wonder if there is anywhere else to go but down.

A clip of the financial journalist Andrew Ross Sorkin is making the rounds right now.

that he's pointing out parallels between the U.S.