Garrett Jin Shares ZEC Withdrawal Records, States 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 successively withdrew 134,000 ZEC and 68,076.23 ZEC from his Binance spot account, totaling approximately 202,100 ZEC. At the current ZEC price of about $1,560, the address's holdings are worth approximately $315 million.

Garrett has recently drawn attention for holding a large-scale ZEC short position on Hyperliquid, with unrealized losses in the tens of millions of dollars. After posting these records, his intention appears to be to indicate 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, valued at $59.33 million, funding rate income of $660,000, and a liquidation price of $4,790.