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

Analyst Predicts ‘The Final Ascent’ For Bitcoin Price, Why A Rise To $300,000 Is Possible From Here

The Bitcoin price has now returned into a full bullish sentiment now that the crypto fear and greed index has flipped into greed This shift reflects growing confidence among investors as optimism

Ethereum Foundation Announces Launch Of Mekong Testnet Ahead Of Pectra Fork

The post Ethereum Foundation Announces Launch Of Mekong Testnet Ahead Of Pectra Fork appeared first on Coinpedia Fintech News In the latest development, the Ethereum Foundation has announced the

Will Trump’s Election Win See the Crypto Market Enter a New Bull Cycle? These Assets Could Explode

The post Will Trump’s Election Win See the Crypto Market Enter a New Bull Cycle These Assets Could Explode appeared first on Coinpedia Fintech News After the election closed with a Trump win,

XRP Price Prediction: Ripple On The Verge Of Breakout But Traders Are Buying This AI Altcoin For 7,000% Returns In 18 Days

The post XRP Price Prediction: Ripple On The Verge Of Breakout But Traders Are Buying This AI Altcoin For 7,000% Returns In 18 Days appeared first on Coinpedia Fintech News While the bears gained

Wintermute proposes fee switch for fair revenue sharing in Ethena protocol

The Ethena community is currently reviewing a proposal from crypto market maker Wintermute to activate a fee switch within the protocol In the Nov 6 proposal, Wintermute highlighted the lack of

Is Mark Uyeda Set to Replace Gary Gensler as SEC Chair?

The post Is Mark Uyeda Set to Replace Gary Gensler as SEC Chair appeared first on Coinpedia Fintech News The first 100 days are crucial for Donald Trump after taking charge as the 47th US President