Significant Bitcoin Movements: Trader Linked to Garrett Jin Sends Over $425 Million to Binance
On-chain analytics firm Arkham Intelligence has reported substantial cryptocurrency transfers to the Binance exchange from a wallet associated with the pseudonymous trader known as Garrett Jin, also referred to as Garrett Bullish. In a recent flurry of activity, the wallet deposited 6,318 Bitcoin (BTC), valued at approximately $425 million, to the exchange. This follows an earlier transfer of about 5,000 BTC, worth roughly $336 million, earlier the same day. In total, the address has moved 11,318 BTC, with a combined value of around $761 million, to Binance in this latest sequence.
Who is Garrett Jin?
Garrett Jin is a well-known figure in cryptocurrency trading circles, operating under a pseudonym. His profile gained significant attention following a high-profile trade: he established a massive Bitcoin short position moments before a major market downturn in October 2024. That crash was widely attributed to President Donald Trump’s announcement of new tariff policies, a event that sent shockwaves through global markets, including crypto. Prior to his trading fame, Jin served as the Chief Executive Officer of BitForex, a cryptocurrency exchange that has since ceased operations.
Remaining Holdings and Market Context
Despite the substantial outflows to Binance, the wallet in question still holds significant assets. According to Arkham’s data, the address retains over 9,300 Bitcoin, valued at approximately $627 million, and a large position of over 548,000 Ether (ETH). Based on current market prices, the Ether holdings are worth in excess of $1 billion.
Large transfers of this scale to a major exchange like Binance are closely monitored by market analysts. Such movements can often precede trading activity, including sales that might impact market prices, or may be part of portfolio rebalancing or collateral management strategies. The consecutive nature of these transfers from a single, identifiable wallet has made this a notable event for on-chain observers tracking whale activity.
Methodology and Data Sources
The figures and transaction details in this report are derived from public blockchain data analyzed by Arkham Intelligence, a firm specializing in on-chain analytics and crypto intelligence. Bitcoin and Ether valuations are based on approximate pricing at the time of the reported transfers, consistent with standard market data aggregators like CoinGecko. All monetary values are estimates and subject to the inherent volatility of cryptocurrency markets.
