Crypto projects have no steady cash flow, says Garrett Jin

Garrett Jin turned into one of the critical voices in crypto space, just days after only appearing as an anonymous whale. Jin, known for his aggressive BTC short positions, now talks about the sector’s need for security ￰0￱ Jin was finally identified as the bearish OG whale, who appeared just days before the recent market ￰1￱ Cryptopolitan reported , the whale’s wallets became notorious for opening short positions 30 minutes ahead of the late Friday market crash. On-chain investigation linked the identity of Jin to some of the OG whale’s ￰2￱ admitted to holding the positions, though denying any links to the Trump family or deliberate insider ￰3￱ whale Garrett Jin states crypto suffers from lack of revenue Jin recently stated the crypto space was suffering from a lack of fresh ￰4￱ explained that the value taken from the crypto space through fees end up hurting BTC and ￰5￱ biggest problem in the crypto space is that most projects have no cash ￰6￱ comparison, TikTok was sold for $14 billion in the U.

S., while many cash-flow-negative crypto projects are valued at tens of ￰7￱ diverts funds away from Bitcoin and Ethereum. Exchanges… — Garrett (@GarrettBullish) October 14, 2025 Even though some protocols try to reinvest into their tokens, the industry as a whole suffers from ongoing extraction through exchange ￰8￱ further showed crypto companies with no revenues are also not attractive ￰9￱ the past years, crypto projects have attempted to build a fee structure for regular payments, but they still rely on external cash to be able to extract the ￰10￱ remains bearish in the short term Jin explained the drive to take up short positions as a hedging strategy, aimed at protecting the funds of an unnamed ￰11￱ short positions are not a deliberate tool to extract funds from Hyperliquid , but a short-term hedge, as the anonymous client holds significant spot reserves, said ￰12￱ client holds a large amount of spot assets, which in itself supports the ￰13￱ we don’t want to see prices fall, the objective reality is that the conditions for a sustained upward trend are not present. — Garrett (@GarrettBullish) October 14, 2025 However, in the past, the OG whale’s activities were not just passive short positions.

Instead, the whale also often sold BTC and shifted into ￰14￱ his role as a trader, Jin remains bearish, recently adding to the BTC short ￰15￱ position has grown to a notional value of $491M, with a liquidation price of $124,260. As a Hyperliquid whale, Jin now holds the top liquidatable short position, gradually increasing the liquidation price over the past few ￰16￱ BTC short position of Garrett Jin is the largest on Hyperliquid, after a few days of adding more ￰17￱ has not been deliberately hunted to liquidate the position, as BTC remains depressed at under $115,000. |