ChainCatcher reported, citing monitoring by Mlm, that a screenshot shared by Garrett Jin showed he withdrew 68,080 ZEC from Binance on Dec. 24 last year, worth $29.7 million at the time. Minutes before the latest observation, the same wallet withdrew another 134,000 ZEC valued at $58.6 million, bringing the total to 202,080 ZEC.
The report said the full amount was briefly hidden and then unhidden, with the wallet still holding all of the tokens. At a reference price of $1,580 per ZEC, those holdings would now be worth about $320 million, compared with $88.3 million at the time of withdrawal.
Separately, Garrett Jin is said to hold a 38,000 ZEC short position on Hyperliquid worth $60 million. That position is currently showing an unrealized loss of $34.5 million. Based on the source report, the short can be viewed as a partial hedge against the spot holdings.
ChainCatcher reported, citing Mlm monitoring, that a screenshot shared by Garrett Jin showed he withdrew 68,080 ZEC from Binance on Dec. 24 last year, when the position was worth $29.7 million.
The same wallet withdrew another 134,000 ZEC a few minutes before the latest observation, valued at $58.6 million. That brought the total withdrawn amount to 202,080 ZEC.
According to the report, he then hid the full 202,080 ZEC position and later removed the hide setting. The wallet is still holding the entire amount.
At $1,580 per ZEC, the holdings would now be worth about $320 million, versus $88.3 million at the time.
Separately, his 38,000 ZEC short position on Hyperliquid, valued at $60 million, is currently showing an unrealized loss of $34.5 million. The source report said that short can be seen as a partial hedge against the spot holdings.
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