Garrett Jin adds 600 BTC long, position turns profitable

Bitforex founder Garrett Jin added a 600 BTC long position at $79,000 after Bitcoin briefly pulled back from above $80,000, EmberCN reported. Garrett Jin, founder of the fraudulent crypto exchange Bitforex, now holds a 3x leveraged cross long position worth 1,868 BTC ($147 million) at an average entry price of $77,090, with an unrealized gain of about $2.78 million. In early July, the position’s unrealized loss reached as much as $23 million, but the recent surge in BTC has pushed it back into profit. Separately, Garrett Jin is sitting on an unrealized loss of about $10.74 million on a 2x leveraged cross short position of 32,760 ZEC ($25.28 million) entered at an average price of $444.