Mysterious French crypto investor bets 28 million dollars on Trump victory

0

Last Updated on 26 October 2024 by CryptoTips.eu

The polymarket platform (which is not accessible in the United States and several countries of the European Union) is just about the trendiest URL of the moment. You can place bets on just about anything and pay in crypto (via the Polygon blockchain).

The New York Times, Fortune, the New Yorker and CNBC have all discussed it in recent days. This is mainly because the odds that Polymarket indicates for the presidential elections are very different from the official polls that indicate that the race between Trump and Harris is still quite close.

There is also a mysterious trader who has bet $28 million in crypto on a Trump victory. According to the Democrats, this is simply a ploy by the crypto industry to get Trump elected, as his policies would be more beneficial for digital currencies.

Advertentie.

Polymarket

The Polygon blockchain has started several projects in the past few years, but none have proven as popular as their Polymarket platform.

It is very controversial, but Polymarket has by now become one of the largest betting sites in the world. Although you are not officially allowed to access it (from the EU or the US), many still surf to the site via a VPN. You can place bets on just about anything and pay in crypto (which provides another use case for digital coins) via the Polygon blockchain.

Vitalik Buterin, the founder of Ethereum, as well as Peter Thiel, one of the main shareholders of Meta (formerly Facebook) and CEO of Palantir, own part of the rights to the Polymarket website via their investments.

A crypto trader, who wishes to remain unknown, created several accounts on Polymarket in recent weeks and was able to change the chances of Donald Trump’s victory by betting large amounts in USDC (the well-known stablecoin); By now, he has already bet more than $28 million that Trump will be elected president of the United States on November 5.

American media have discovered that the man has the French nationality and is a major financial player in Paris. According to ‘Business Insider’, the trader has increased his crypto bet and the amount has now risen to $46 million.

At least it’s good news for the Polygon blockchain of course.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
View all posts