Garrett Jin Deposits 577,896 Ethereum Worth $1.35 Billion to Binance in Four Days

According to Lookonchain, Garrett Jin deposited 577,896 ETH to Binance over four days, a large exchange inflow that drew attention because the purpose of the transfers was not disclosed.

ETH

Summary

According to Lookonchain, Garrett Jin deposited all 577,896 ETH worth roughly $1.35 billion into Binance over four consecutive days. The new report reiterates the scale of the transfers and says the activity raised concerns, but it does not add verified details beyond the previously reported exchange deposits. Earlier reporting cited a final transfer of 225,627 ETH worth $528.19 million, while separate coverage described the last move as about 225,000 ETH worth $526 million and linked the wallet activity to $230 million in liquidations. No source confirmed whether the Ethereum was sold, posted as collateral, or moved for another purpose.

Terms & Concepts
  • Ethereum: A blockchain network whose native coin, ETH, is used for payments and smart contracts (self-executing blockchain code).
  • Binance: A major cryptocurrency exchange where users can trade, deposit, and withdraw digital assets.
  • Liquidation: The forced closing of leveraged positions by an exchange when collateral no longer covers losses, often during sharp price moves.