A prominent Bitcoin whale known as Garret Jin, who reportedly manages over $10 billion in assets, has initiated a significant leveraged long position on Ethereum. Initially, on-chain data showed Jin withdrew $30 million USDC from Binance and deposited it into the decentralized perpetual exchange Hyperliquid to open a position valued at roughly $69 million. [Update] The whale has subsequently increased their exposure significantly. 'Garret Jin' deposited an additional $30 million USDC into Hyperliquid. Following this fresh capital injection, the account increased its leveraged Ethereum long position to approximately 39,000 ETH, now valued at roughly $121.5 million. The entity is currently sitting on unrealized profits of approximately $3.4 million on this specific account.