Garrett Jin, agent of the so-called "BTC OG insider whale," commented on Arthur Hayes' comeback to lead a crypto AI project, calling his timing impressive and describing crypto as a game of cycles — read the cycle, ride the tailwind.
A cluster of crypto and tech developments landed on July 27, led by Changxin’s blockbuster market debut and Circle’s latest infrastructure push. According to crypto KOL AB Kuai.Dong, Country Garden invested RMB 2 billion in Changxin in September 2021 at RMB 2.22 per share, securing 901 million shares, but later exited at cost by the end of 2024 as it grappled with a property-sector liquidity crisis. Had it held the position until now, the return would have reached 23x. Changxin then closed its first trading day up 465.8% at RMB 49, with a total market value of RMB 3.28 trillion. In crypto, Circle said it acquired IBM’s blockchain patent portfolio, covering more than 680 patent families and nearly 1,000 granted patents tied to core blockchain technology, banking, financial services, insurance, enterprise infrastructure, supply-chain verification and secure cloud operations. In the U.S., the Senate’s latest merged text of the Digital Asset Market Clarity Act entered a critical two-week window before the August recess, with ethics provisions emerging as the main sticking point. Onchain data also drew attention: 6.93 million HYPE are set to be unstaked over the next seven days on Hyperliquid, while the platform’s nine largest whale addresses were collectively sitting on about $48.635 million in unrealized losses.
Hyperinsight data shows that the top nine whale addresses on Hyperliquid are all sitting on unrealized losses, despite each holding positions close to or above $100 million. Their combined notional exposure stands at about $1.285 billion, with individual books ranging from $97.84 million to $314 million. The largest loss belongs to the address labeled “BTC OG insider whale,” whose overall paper loss has reached $15.538 million, driven mainly by a 5x leveraged BTC long worth roughly $82.906 million. ETH shorts have emerged as the most crowded losing trade among the group: six of the nine addresses are short a combined 222,000 ETH, with those positions showing total unrealized losses of $36.208 million. Specific addresses including pension-usdt.eth, BobbyBigSize and Abraxas Capital all posted notable losses on ETH shorts, although Abraxas offset part of the damage with profitable shorts in HYPE, SOL and FARTCOIN. Other losses came from BTC shorts and U.S. equity longs such as GOOGL and MRVL, showing that the drawdown was not tied to a single directional bet.
BlackRock ETF address deposits 1,360 BTC and 15,103 ETH into Coinbase; UBS strategist expects gold to hit new highs; US jobless claims beat estimates; BitGo launches institutional stablecoin minting; US prosecutors charge 10 in wash trading scheme using FBI-created token.
BlackRock ETF deposited 1,360 BTC and 15,103 ETH worth $121M to Coinbase. US jobless claims lower than expected. UBS strategist expects gold to hit new highs. BitGo launches institutional stablecoin minting. US prosecutors charge 10 for wash trading using FBI-created tokens.
April 3 snapshot: BlackRock ETF deposits $121M BTC/ETH to Coinbase; US jobless claims beat forecasts; UBS sees gold hitting $5,000/oz; BitGo launches institutional stablecoin minting; DOJ charges 10 for wash trading using FBI-created tokens.
According to Onchain Lens monitoring cited by ChainCatcher, “BTC OG insider whale” Garrett Jin has further increased his 2x leveraged ZEC long position, now holding 46,013 ZEC worth about $19.3 million.
According to Onchain Lens monitoring cited by ChainCatcher, “BTC OG insider whale” Garrett Jin has further increased a 2x leveraged ZEC long position to 46,013 ZEC, worth about $19.3 million, while also keeping a 5x leveraged BTC long open.
