French trader netted $79 million from Donald Trump wagers on PolyMarket

Share This Post

Republican candidate Donald Trump is not the only one claiming victory in the just-concluded US elections. Theo4, reportedly a French trader, is also making headlines for pocketing close to $79 million from a high-stakes bet on Trump winning a second term on the decentralized betting marketplace Polymarket.

Chainalysis noted that reports had previously rumored that Theo held four accounts on Polymarket with substantial bets on Trump. However, further analysis by blockchain intelligence firm Chainalysis identified nine accounts likely controlled by the same individual. This finding came from a detailed review of funding patterns, transaction timing, and cash-outs to specific exchange deposit addresses.

Polymarket
Polymarket Whale Gain (Source: Chainalysis)

This network of accounts achieved around $78.7 million in net profits by betting on Trump’s victory.

Meanwhile, Theo’s trading patterns had drawn increased scrutiny as the election neared, as his large-scale bets raised questions. Despite this, Theo, who WSJ reported identifies as a veteran European financial investor, maintained that his bets reflect firm conviction about the election outcome.

The post French trader netted $79 million from Donald Trump wagers on PolyMarket appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Binance Bitcoin Reserves Up 25%, Holding 40% of Global Market Share

The post Binance Bitcoin Reserves Up 25%, Holding 40% of Global Market Share appeared first on Coinpedia Fintech News Despite persistent fear, uncertainty, and doubt (FUD), Binance’s customer

India’s RBI Boosts Cross-Border Payments Platform with CBDC Integration

The post India’s RBI Boosts Cross-Border Payments Platform with CBDC Integration appeared first on Coinpedia Fintech News The Reserve Bank of India (RBI) is enhancing its cross-border payments

XRP Price Prediction For November 25

The post XRP Price Prediction For November 25 appeared first on Coinpedia Fintech News Ripple’s XRP is currently down by more than five percent and is trading near the $140 levels Majority of the

WBTC Flash Crash on Binance, Price Plunges to $5,200

The post WBTC Flash Crash on Binance, Price Plunges to $5,200 appeared first on Coinpedia Fintech News On November 23, 2024, Wrapped Bitcoin (WBTC) experienced a sudden flash crash on Binance,

Metaplanet Stock Soars After Securing Bitcoin Magazine Japan for Bitcoin Adoption

The post Metaplanet Stock Soars After Securing Bitcoin Magazine Japan for Bitcoin Adoption appeared first on Coinpedia Fintech News After signing a memorandum of understanding (MoU) with Bitcoin

Ethereum Price Poised for Gains: $3,600 Within Reach?

Ethereum price started a fresh increase above the $3,320 zone ETH is rising and aiming for more gains above the $3,500 resistance Ethereum started a fresh increase above the $3,300 and $3,320 levels