The Garrett Jin entity once held over 100,000 BTC at an average cost of only about $7,242 per coin, and has frequently suffered massive losses over the past year.

BlockBeats news, September 19 — EmberCN disclosed in a post that the reason the "BTC OG insider whale" proxy Garrett Jin's whale entity could withstand tens of millions of dollars in unrealized losses on a ZEC short was its early accumulation of a massive BTC position. The entity hoarded 100,784 BTC between May and June 2018 at an average price of about $7,242. By the same period last year, the position was worth over $10 billion, and funding for multiple subsequent investments mainly came from selling BTC.

Over the past year, the entity has frequently conducted large crypto asset transactions. Starting in August 2025, it gradually sold about 89,000 BTC and bought about 900,000 ETH at an average cost above $3,500. These ETH were subsequently transferred to Binance in batches during the first half of 2026.

In December 2025, the entity also went long ETH on Hyperliquid. In early February 2026, as ETH fell from $3,000 to $1,800, a long position of 213,000 ETH worth about $670 million was liquidated, resulting in a loss of about $230 million in margin. During the same period, the entity, which had multiple large fund transfers with Trend Research addresses, was believed to have provided part of the funding to Trend Research. A leveraged long position of 651,500 ETH at Trend Research was ultimately stopped out, with a loss of about $734 million.

In addition, from February to June this year, the entity accumulated about 289.6 million "Binance Life" tokens through Binance withdrawals and on-chain purchases, worth about $150 million, accounting for 28.9% of the token's total supply.

In March, it also suffered extreme slippage when swapping 50.43 million aEthUSDT for aEthAAVE, receiving only 327.2 AAVE and losing about $50.39 million.

Since July, the entity has also been shorting ZEC on Hyperliquid and currently has an unrealized loss of about $34 million. Compared with its early BTC assets in the tens of billions of dollars, this loss is only part of its many massive trades.