Garrett Jin Discloses Losses of Over 100,000 BTC Held by Whale Entity

Garrett Jin's whale entity accumulated 100,800 BTC at an average price of approximately $7,242 from May to June 2018, with the holdings valued at over $10 billion during the same period last year. Starting in August 2025, the entity gradually sold about 89,000 BTC and purchased approximately 900,000 ETH, with an average cost of over $3,500 per ETH. The related ETH was subsequently transferred to Binance in the first half of 2026. In December 2025, the entity went long on ETH on Hyperliquid; however, in early February 2026, the price of ETH dropped from $3,000 to $1,800, resulting in a liquidation of 213,000 ETH long positions and a loss of approximately $230 million in margin. The entity also provided some funds to Trend Research, where a leveraged long position of 651,500 ETH was stopped out, incurring a loss of about $734 million. From February to June this year, the entity accumulated approximately 289.6 million "Binance Life" tokens through withdrawals from Binance and on-chain purchases, valued at about $150 million, accounting for 28.9% of the total supply of the token. In March, when the entity exchanged 50.43 million aEthUSDT for aEthAAVE, it encountered extreme slippage, only receiving 327.2 AAVE and incurring a loss of about $50.39 million. Since July, the entity has been shorting ZEC on Hyperliquid, currently facing an unrealized loss of approximately $34 million.

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