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the trader called Jason who keeps shorting Bitcoin on time

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the trader called Jason who keeps shorting Bitcoin on time

A pseudonymous whale called Jason has built a 2,281 BTC short on Binance, now in multi‑million profit, extending a pattern of eerily well‑timed macro trades.

A pseudonymous trader known online as Jason (@Jason60704294) is once again drawing scrutiny from on-chain analysts after data published Wednesday by blockchain sleuth @ai_9684xtpa revealed that Jason currently holds a short position of 2,281.09 BTC on Binance, with a nominal value of approximately $169 million and an opening average entry price of $74,238. With Bitcoin (BTC) trading around $72,467 at the time of monitoring — roughly 2.38% below Jason’s entry point — the position carries an unrealized floating profit of approximately $4.155 million.

The trade is not an isolated event. It is the latest chapter in a documented pattern that has made Jason one of the most closely tracked retail-sized whale accounts in crypto markets. According to on-chain analysis aggregated by Blockchain.news, Jason had just days earlier closed a long position with a profit of $14.668 million before pivoting sharply to the short side, opening an initial position of 28.48 BTC at an estimated entry price of around $74,210. Wednesday’s data confirms that position has since been substantially scaled up to over 2,281 BTC — a markedly more aggressive commitment.

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Jason’s history adds considerable weight to the current trade. In August 2025, the trader opened short positions on BTC at $120,948 and on ETH at $4,712, positions that — if held — would have generated substantial returns as both assets declined sharply in subsequent months. Earlier, the trader had reportedly exited positions recording a $58.89 million loss, underscoring that the strategy carries real risk despite its headline-grabbing wins.

The timing of today’s short aligns with a broader market deterioration. Bitcoin has been under sustained pressure since late February, when U.S.-Israel military strikes on Iran triggered a Strait of Hormuz crisis that has since disrupted approximately 15% of global oil supply. Wednesday’s release of U.S. February PPI data — coming in at 0.7% month-on-month against a 0.3% forecast — compounded the risk-off sentiment, further dimming expectations for Federal Reserve rate cuts that had previously underpinned crypto’s bull case.

It is worth noting the platform context. Jason’s current position is held on Binance, not on Hyperliquid, making real-time on-chain tracking of the exact account more difficult, as Odaily reported. The figures cited are derived from analyst monitoring of wallet behaviour and social media timestamps rather than direct smart contract reads. Nonetheless, the data is broadly consistent with Jason’s established trading fingerprint: high-conviction, concentrated directional bets placed at key technical inflection points.

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Whether Wednesday’s short is prescient once again, or whether it becomes a cautionary tale in an eventual Bitcoin rebound, remains to be seen. What is clear is that a growing cohort of on-chain analysts are watching every move — and that in a market defined by opacity, Jason has become something of an unlikely signal in the noise.

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Crypto World

SEC Approves Nasdaq Tokenization Trading Trial

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Nasdaq, SEC, Tokenization

Nasdaq has been given the regulatory green light to offer some tokenized stocks, which will trade alongside traditional securities on its exchange.

The US Securities and Exchange Commission on Wednesday approved Nasdaq’s pilot proposal to support the trading of tokenized versions of stocks and other securities.

Nasdaq first filed its proposal in September that sought to allow trades on high-volume stocks in either a traditional or tokenized form on the same exchange in a pilot with the key market infrastructure firm, Depository Trust Company.

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The tokenized stocks would trade alongside their traditional counterparts on the same order book, at the same price, with the same ticker and identifying number and carry the same rights.

Tokenization, where an asset is represented on a blockchain, has seen a recent boom as major financial firms have tested the technology to shrink settlement times and experiment with longer trading hours.

Eligible participants can trade top tokenized stocks

According to the SEC’s approval filing, only “eligible participants” are to take part in the tokenization pilot and can choose whether to trade a traditional or tokenized stock.

The options for tokenized stock are limited to securities that trade in the Russell 1000 Index, which tracks the 1,000 largest publicly-traded companies in the US by market capitalization, along with exchange-traded funds tracking the S&P 500 and Nasdaq-100 indices.

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Nasdaq, SEC, Tokenization
An excerpt of some of the key similarities between tokenized and traditional stocks under the Nasdaq’s pilot. Source: SEC

The SEC noted the Nasdaq’s proposal received feedback with concerns around market surveillance and diverging prices, which it said was later allayed by an amendment laying out more details.

Related: SEC’s ‘Crypto Mom’ calls for simpler disclosure rules, flags tokenization debate

The approval comes after the Nasdaq announced earlier this month that it had partnered with crypto exchange Kraken to allow its clients to move securities from its infrastructure to tokenized versions that can be used on blockchains and to allow public companies to create and issue their own tokenized shares.

New York Stock Exchange owner the Intercontinental Exchange has also set its sights on tokenization, and invested in crypto exchange OKX in early March to launch tokenized stocks.

SEC Chair Paul Atkins said on Tuesday that the agency would soon be seeking public comment on a range of crypto-related exemptions, including a “fundraising exemption” to allow some securities involving crypto to raise a set amount in any 12-month period while being exempted from registering under securities laws.

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Magazine: Can Robinhood or Kraken’s tokenized stocks ever be truly decentralized?