Garrett Jin Boosts $51M Zcash Short Position Amid Price Surge
Garrett Jin, former CEO of BitForex, has significantly increased his short position on Zcash (ZEC) by withdrawing 35,001 ETH from Binance in September 2026. This move boosted his ZEC holdings to approximately 37,760 units, worth around $51 million at the time.
Jin's aggressive trading style is well-documented, having previously incurred a $250 million loss on Ethereum and successfully shorted Bitcoin in the past.
Despite currently facing over $25 million in unrealized losses due to ZEC's price surge, Jin maintains a substantial buffer before liquidation. His actions highlight how major traders leverage centralized exchanges like Binance for liquidity and decentralized platforms like Hyperliquid for active trading, influencing market dynamics and price movements.