A whale wallet linked to former BitForex CEO Garrett Jin has opened approximately $900 million in long positions across major cryptocurrencies, according to blockchain analytics platform Arkham Intelligence.
The positions include $733 million in Ethereum, with additional exposure in Bitcoin and Solana using leveraged derivatives on Hyperliquid.
This marks the trader's return to aggressive positioning three months after allegedly profiting from October 2025's market crash.
What Happened
Arkham reported Friday that the wallet increased its existing Ethereum long by $66.2 million, bringing total combined exposure across ETH, BTC and SOL above $900 million.
The same wallet address had generated an estimated $190-200 million by shorting Bitcoin and Ethereum less than an hour before President Donald Trump announced 100% tariffs on China on October 10, 2025.
That perfectly-timed short sparked widespread allegations of insider trading, which Jin categorically denied on social media.
"I have no connection with the Trump family," Jin stated in October, adding that the wallet belonged to a client.
Blockchain investigators initially linked the wallet to Jin through Ethereum Name Service data showing connections between "ereignis.eth" and "garrettjin.eth" addresses.
Read also: Nearly 80% Of Hacked Crypto Projects Never Fully Recover, Security Firm Warns
Why It Matters
The new long positions represent a dramatic reversal from the October bearish bet, suggesting conviction that current market momentum will sustain despite macroeconomic headwinds.
Jin's October trades occurred during the largest single-day liquidation in crypto history, with $19.13 billion wiped out globally as Bitcoin briefly fell below $102,000.
The timing - less than 60 minutes before Trump's tariff announcement - triggered intense scrutiny from prominent figures including Binance co-founder Changpeng Zhao, who shared the allegations with his 10 million followers.
However, prominent blockchain investigator ZachXBT suggested the trades may have been executed by "a friend of Jin" rather than Jin himself.
BitForex, which Jin led from 2017-2020, collapsed in 2024 after losing $57 million from hot wallets amid fraud allegations from Hong Kong regulators.
The current $900 million positions use high leverage on Hyperliquid, creating significant liquidation risk if Bitcoin and Ethereum reverse course from recent gains.
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