A whale entity represented by Garrett Jin accumulated 100,800 BTC at an average price of about $7,242 between May and June 2018. Its holdings were worth more than $10 billion at one point during the same period last year, and subsequent investment funding mainly came from BTC sales. From August 2025, the entity sold about 89,000 BTC and bought roughly 900,000 ETH at an average cost above $3,500. The ETH was subsequently transferred to Binance during the first half of 2026. The entity opened an ETH long on Hyperliquid, a crypto derivatives platform, in December 2025. In early February 2026, an ETH price decline from $3,000 to $1,800 liquidated a 213,000-ETH position worth about $670 million, consuming roughly $230 million in margin. The entity was also believed to have provided some funding to Trend Research, whose 651,500-ETH leveraged long was stopped out with a loss of about $734 million. From February through June this year, the entity accumulated approximately 289.6 million Binance Life tokens through Binance withdrawals and on-chain purchases, worth about $150 million and equal to 28.9% of total supply. In March, converting 50.43 million aEthUSDT into aEthAAVE resulted in extreme slippage, a price gap during execution, leaving the entity with only 327.2 AAVE and a loss of about $50.39 million. Since July, it has shorted ZEC on Hyperliquid and is carrying an unrealized loss of about $34 million.