Kang said in an April 12 X post that trade war capitulation and a “Trump put” — the belief that the president will work to bump the stock market — “are the perfect combination for BTC to reverse a multi month downtrend.”Kang noted Trump’s April 9 Truth Social post could be a sign of the so-called “Trump put.” Source: Andrew KangMeanwhile, Senate Democrats called on the Securities and Exchange Commission in an April 11 letter to launch an insider trading and market manipulation probe into Trump and his affiliates over the post, which they said “appears to have previewed his plans” to pause the tariffs.
On April 9, Arkham noted that the Kang-tied wallet had put on a $100 million leverage-long bet on Bitcoin after US President Donald Trump posted to his Truth Social platform earlier the same day that “THIS IS A GREAT TIME TO BUY!!! DJT.”Source: ArkhamJust hours later, the Trump administration announced a 90-day pause on its global hiked tariff regime, which sent crypto and stocks rallying.
Andrew Kang, founder of the crypto venture firm Mechanism Capital, has seemingly doubled down on his bet that Bitcoin will gain in price with a $200 million long position, onchain data shows. “Andrew Kang just doubled his Bitcoin position,” crypto analytics firm Arkham said in an April 12 X post.
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Author / Journalist: Cointelegraph by Jesse Coghlan
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