Garrett Jin Holds $320 Million in ZEC, Shorting $60 Million on Hyperliquid

Garrett Jin is reportedly holding 202,080 ZEC tokens while maintaining a short position of approximately $60 million (around 832 billion KRW) on Hyperliquid, according to PANews. The news outlet reported that Jin withdrew 68,080 ZEC from Binance on December 24, 2025, followed by an additional withdrawal of 134,000 ZEC from the same wallet. After obscuring and then unobscuring the holdings, he is now holding all the tokens. PANews calculated that at a price of $1,580 per ZEC, the value of his holdings amounts to approximately $320 million (around 443.8 billion KRW), up from $88.3 million (approximately 122.5 billion KRW) previously. The unrealized loss on the Hyperliquid short position is estimated at around $34.5 million (about 47.9 billion KRW), with PANews suggesting it may be a partial hedge against his spot holdings. Separately, a report dated September 8 indicated that Hyperliquid's short position stood at 39,760 ZEC, approximately $44.86 million.