Garrett Jin Wallet Moves $1.35B in ETH to Binance Amid ETF Outflows

A significant development has taken place in the crypto market, with a wallet linked to Garrett Jin transferring $1.35 billion worth of ETH to Binance over the past few days. This massive inflow has raised concerns among traders about potential sell pressure on the market.

The timing of this transfer is particularly notable, as it coincides with ETF outflows from US spot Ether ETFs. On May 7, $103.51 million in net outflows were reported, with Fidelity's FETH leading redemptions at $62.26 million and BlackRock's ETHA following closely behind at $26.31 million.

The wallet linked to Garrett Jin has been the subject of scrutiny in the past due to its association with high-profile market events. In October 2025, on-chain investigators linked the wallet to a $735 million BTC short minutes before a major market crash triggered by tariff-related volatility. Jin denied insider trading allegations at the time, stating that the funds belonged to clients and the short position was used for hedging.