Analyst: "1011 Insider Whale" Garrett Jin Suspected of Masterminding Binance's 20x Leverage Rally

CoinFeed reported on June 7th that, according to on-chain analyst Yu Jin, Binance Life, which saw a 20-fold increase in value over two months, is suspected to be controlled by the entity of Garrett Jin, a whale with assets exceeding tens of billions of dollars. Data shows that since February, a set of related addresses has accumulated a total of 284 million Binance Life tokens (worth $237 million) through withdrawals from Binance and on-chain purchases, accounting for 28.4% of the total supply. The proportion of control is even higher when combined with holdings on centralized exchanges (CEXs). On-chain tracing revealed that the related addresses share Binance and Bybit deposit addresses with the Garrett Jin entity, confirming the connection. This whale previously held 100,000 BTC, exchanged them for 900,000 ETH last year, suffered a massive $230 million loss in February this year due to a Hyperliquid long position liquidation, and transferred 577,000 ETH ($1.35 billion) to Binance in May.