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Garrett Jin’s Eth2Depositor Pools Received 886,440 ETH from BTC Swaps

On-chain findings tie Garrett Jin and Jack Chen to Ethereum pools once holding over $4B from BTC sales, linked to a $10B managed fund.

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ETH

Summary

On Jan. 6, on-chain analyst Eye reported that Garrett Jin helped create two Ethereum staking pool contracts—Eth2Depositor and EthBatchDepositor—that held 886,440 ETH valued at about $4.07 billion. The Ethereum originated from Bitcoin sales conducted in August and September and has since been fully unstaked. Investigations connect Jin and collaborator Jack Chen to the management of a $10 billion fund, suggesting their involvement in significant cross-asset crypto operations.

Terms & Concepts
  • ETH staking: The process of locking Ethereum in validator nodes to support network operations and earn rewards.
  • BTC swap: An exchange transaction where Bitcoin is traded for another asset, such as Ethereum.
  • Ethereum pool: A smart contract-based fund that combines multiple deposits for purposes like staking or liquidity provision.