Garrett Jin Shares ZEC Withdrawal Records, Says Contract Was Not a Naked Short: Currently Holds About 202,000 Spot Tokens Worth Over $300 Million

BlockBeats news, September 19 — Garrett Jin, the agent for the "BTC OG Insider Whale," consecutively posted two screenshots of ZEC (Zcash) spot withdrawals from Binance, along with corresponding Zcash explorer links. Records show that on December 20, 2025, he withdrew 134,000 ZEC and 68,076.23 ZEC from his Binance spot account, totaling approximately 202,100 ZEC. At ZEC's current price of about $1,560, the address's holdings are worth approximately $315 million. The average withdrawal price was about $437, with unrealized gains reaching $228 million.

Garrett has recently drawn attention for holding a large-scale ZEC short position on Hyperliquid with tens of millions of dollars in unrealized losses. After posting these records, his intention appears to be to show that his contract short is more likely a hedge against an oversized spot position rather than a pure naked short.

According to TradingBeats monitoring, the ZEC short position held by Garrett Jin, the agent for the "BTC OG Insider Whale," has reached an unrealized loss of $33.83 million, with a short position size of 37,999.54 ZEC worth $59.33 million, funding rate income of $660,000, and a liquidation price of $4,790.