A Crypto Whale Withdrew 1 Million USDC to Bet on Donald Trump’s Election Win

As the US Presidential Elections are nearing, a whale under the name, ah7162, decided to withdraw 1M $USDC from crypto exchange Binance to buy “YES” shares of Donald Trump’s win on Polymarket. However, the decision took a strange turn as now his YES-es have turned into a floating loss of $14,000.

Real-time blockchain intelligence platform, Onchain lens wrote a post on X, “8 hours ago, a whale withdrew 1M $USDC from #Binance to buy “YES” shares of #DonaldTrump on #Polymarket.

The whale holds 1.6M “YES” shares and has a floating loss of ~$14K.”

Courtesy: Onchain Lens

Note that, as per the latest data from prediction market Polymarket, the odds of former President Donald Trump winning the US Elections stand at 66.3%, meanwhile the odds of VP Kamala Harris winning the US Elections stand at 33.7%.

US Elections, which are to be held on 5th November have amassed nearly 2.7b Volume of market trade on Polymarket. Some days ago, a whale named, “GCorttell93” purchased more than 4.5 million Trump victory bets on the “2024 Presidential Election Winner” market, spending more than $3 million in just minutes. Due to the mechanism of the order book, a $275,000 purchase actually traded at 99% odds. However, the actual market odds were about 63% at that time.

Trump’s popularity on Polymarket has gone up as Bitcoin, too continues to surge, and with Bitcoin becoming the sixth largest asset. A recent research also concluded that Donald Trump’s win could push Bitcoin to $80,000 or more.

Also Read: Florida CFO Backs Trump’s Bitcoin Strategic Reserve Idea in New Letter