Data: Garrett Jin holds 32 million USD in ZEC spot, with 6 million USD in short positions possibly serving as part of his hedge

According to Mlm monitoring, a screenshot shared by Garrett Jin shows that he withdrew 68,080 ZEC (worth 29.7 million dollars at the time) from Binance on December 24 last year. A few minutes earlier, the same wallet withdrew another 134,000 ZEC (58.6 million dollars). He then masked all 202,080 ZEC and later unmasked them, and currently still holds the entire amount. Based on a price of 1,580 dollars per ZEC, these holdings are now worth 320 million dollars, while their value at that time was 88.3 million dollars. Therefore, his short position of 38,000 ZEC (60 million dollars) on Hyperliquid currently shows an unrealized loss of 34.5 million dollars, which can be seen as a partial hedge against his spot holdings.