Garrett Jin Withdraws $77.48M USDT from Binance, Repays Aave Loans

On Feb. 10, Lookonchain reported that Garrett Jin withdrew over $77 million USDT from Binance to repay loans on the decentralized lending platform Aave.

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AAVE

Summary

On February 10, blockchain analytics platform Lookonchain revealed that Garrett Jin withdrew 77.48 million USDT from Binance and used the funds to fully repay his loan on Aave. This transaction represents a substantial fund movement from a leading global crypto exchange to a decentralized finance protocol, underscoring ongoing large-scale interactions between centralized and decentralized platforms in the crypto ecosystem.

Terms & Concepts
  • USDT (Tether): A stablecoin pegged to the U.S. dollar, used for trading and transferring value in crypto markets.
  • Aave: A decentralized lending platform allowing users to borrow and lend cryptocurrency without intermediaries.
  • Binance: A major global cryptocurrency exchange offering trading in a wide range of digital assets.