Garrett Jin, previously at the helm of the now-defunct crypto exchange BitForex, has issued a response concerning allegations linking him to a sizable Bitcoin
An independent crypto investigator, known online as Eye, put forward a theory that Jin was the individual responsible for a significant short position against Bitcoin.
The assertion is based on activity traced to a particular digital wallet. Eye’s analysis suggests that this wallet executed a substantial Bitcoin short trade just prior to the public announcement of increased US import duties on Chinese goods.
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Responding to the allegations, Jin took to X on October 13, with a public denial of any involvement.
In his statement, he also affirmed that he has no connections to the Trump family and refuted any suggestion that he had prior knowledge of the impending tariff announcement.
Eye’s claims further included the assertion that Jin controlled a wallet with the capacity to trade over 100,000 BTC.
Jin countered by stating that the wallet in question is the property of a client, not himself. He also criticized Changpeng Zhao for sharing Eye’s unverified claims, which he argues led to the dissemination of private information to a wide audience.
While the trade executed by the wallet is estimated at $735 million, not all analysts are convinced by Eye’s conclusions. Another crypto analyst, ZachXBT, posited that an individual associated with Jin is a more likely candidate.
In related news, a cryptocurrency trader recently transformed a $3,000 investment into approximately $2 million following Zhao’s mention of a new meme token, “4,” on the BNB Chain. Interested in the details? Read the complete report.