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      Whale Entity Led by Garrett Jin Faces Significant Losses Amid Market Volatility

      Garrett Jin, representing a prominent cryptocurrency whale entity, has experienced substantial financial setbacks over the past year, following a series of strategic investments and trades. Initially, the entity accumulated approximately 100,800 Bitcoin (BTC) at an average price of $7,242 between May and June 2018, with the value of these holdings exceeding $10 billion last year. However, starting in August 2025, the entity began to liquidate its BTC, selling around 89,000 BTC while simultaneously investing in Ethereum (ETH), acquiring about 900,000 ETH at an average cost of over $3,500 each.

      In early February 2026, the entity's long positions in ETH were liquidated after the cryptocurrency's price plummeted from $3,000 to $1,800, resulting in a loss of approximately $230 million. During this period, the entity also provided funds to Trend Research, which suffered a loss of around $734 million due to a leveraged long position in ETH that hit its stop loss. Additionally, the whale entity engaged in on-chain purchases through Binance, accumulating around 289.6 million 'Binance Life' tokens valued at about $150 million, which represents nearly 29% of the total supply of the token.

      The trading strategy has not been without its challenges. In March 2026, the entity faced significant slippage while exchanging 50.43 million aEthUSDT for aEthAAVE, resulting in a loss of approximately $50.39 million. Furthermore, since July 2026, the entity has been shorting Zcash (ZEC) on Hyperliquid, currently facing an unrealized loss of about $34 million. These developments highlight the volatility and risks associated with cryptocurrency trading, particularly for large-scale investors.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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