Garrett Jin explained the precise shorting sarcastically: There aren't that many conspiracies in the world; being optimistic in the long term can also mean shorting in the short term.

On October 14, Garrett Jin, a Whale who previously made precise shorting before the big dump and publicly sold over $4.23 billion in BTC to switch to ETH, stated: "Our clients hold a large amount of Spot Crypto Assets, and the short positions before the big dump were only partial hedging. If liquidity is sufficient, more Positions can be built. Considering the losses in Spot Holdings, the client's overall Position is actually suffering losses. We are optimistic about the crypto market in the long term, but that does not mean we will not hedge in the short term. If shorting when prices fall is condemned, should long positions when prices rise also be blamed? Currently, the crypto market is highly correlated with the US stock market; if you do not keep up with the latest information in a timely manner, you will fall behind. Everyone wants to profit from the market; what professional knowledge or training do you have that can help you beat the market? If you cannot answer that, then you are the source of profits. There are not so many conspiracies in this world, so stop making excuses for your ignorance and unprofessionalism." Earlier today, "on-chain detective" Eye revealed that an investigation into an insider trading group has made significant progress. The investigation indicates that the BTC Whale Garrett Jin, who had previously made a high-profile switch to ETH, may only be an agent, with the real source of insider information pointing to a group of insiders within the White House.