Garrett Jin Whale Unloads 35k ETH Amid $34M Floating Losses

A whale entity known as Garrett Jin sold 35,000 ETH at $2,500 to fund a short position on ZEC.

The entity withdrew from Binance and directed the proceeds to margin a Hyperliquid short position that now carries $34 million in floating losses.

The funds trace back to 100,784 BTC accumulated in 2018 at $7,242 per coin. The entity swapped 89,000 BTC for 900,000 ETH in 2025 at an average cost above $3,500, then transferred the holdings to Binance.

Losses mounted with a $230 million Hyperliquid ETH long liquidation in February 2026 and a $50 million slippage wipeout on an aEthUSDT-to-AAVE swap.