Whale Garrett Jin Deposits $396m In Ethereum To Binance

Crypto whale Garrett Jin has deposited 166,023 $ETH into Binance, with on-chain data tracked by Lookonchain valuing the transfer at approximately $396 million. The move is one of the largest single Ethereum inflows to a centralized exchange recorded in recent months.

A Pattern of Large-Scale Exchange Moves

This is not Jin's first headline-grabbing transfer. Earlier in 2026, Lookonchain linked wallets associated with Jin to a deposit of more than 260,000 ETH, worth $543 million at the time, sent to Binance within minutes, marking one of February's largest concentrated Ethereum inflow events. Around the same period, Lookonchain identified 13 wallets it believes may be linked to Jin, all of which received USDC or USDT from Binance on February 16 and 20, with one sharing a Binance deposit address associated with Jin.

On-chain investigators have previously described Jin as a prominent figure in the Bitcoin community since the 2010s, with reported holdings spanning both $ETH and $BTC at scale. According to Lookonchain, prior transaction history suggests active selling from Jin's side, pointing to capital rotation rather than long-term custody movement.

What a Deposit of This Size Signals

Large transfers from private wallets to centralized exchanges are closely watched by market participants. Transfers sent directly to exchange deposit addresses, rather than through intermediary wallets, make it more likely the liquidity will be deployed in the near term. Whether the $396 million in $ETH will be sold, used as collateral, or held on the platform remains to be seen. Jin has not made a public statement regarding the intent of the transfer.

Source: Lookonchain

Sources
Bitcoin Ethereum News: Over 260,000 ETH Deposited to Binance in Short-Term Inflow Spike
ChainCatcher: Black Swan Operator? Who exactly is Garrett Jin?
Bitcoin Sistemi: Garrett Jin Linked to On-Chain Wallet Activity via Lookonchain