A crypto trader GiganticRebirth, who goes by GCR, felt increasingly bearish about the cryptocurrency market. He had enjoyed a 20-month-long bull run that showed no signs of stopping.
As the others shilled predictions of a new crypto supercycle, GCR planned a different, contrarian trade: a big short or a significant bet against overvalued altcoins that would generate massive profits if his bearish views played out. He assembled a smattering of part-time researchers to pull off the trade, ranging from a professional poker champion to a medical student.GCR short-listed nearly 30 various tokens across multiple exchanges at the height of crypto fervor last November. In January, he tweeted a screenshot of a trading dashboard from the FTX crypto exchange, purportedly showing big profits from the gambit. GCR has a good reputation, as evidenced by the high five-figure following he has built on Twitter in the past year. He appears under the moniker Gigantic-Cassocked-Rebirth on the FTX exchange’s Top 100 Traders leaderboard, ranking users by profit and loss. Before crypto, GCR cut his trading political prediction markets on the popular betting site PredictIt. In addition to his market calls, his political tweets have ranged from predicting the retirement of Supreme Court Justice Stephen Breyer to betting on the underdog run of French Presidential candidate Valérie Pécresse. According to his recommendations, the account has attracted speculative retail “copy-traders” who trade.GCR puts out an open call to his legion of Twitter followers. He hired researchers to look into the distribution, unlocking, and vesting schedules for dozens of to
