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No results1Bitget Daily Digest（October 14）｜After tariff panic, TACO trading resurfaces; UK plans major tax cuts and advocates for the central bank to hold Bitcoin; multiple tokens set for large unlocks in the ne2Whales sell $4.2 billion worth of bitcoin, mysterious Chinese figure Garrett Jin caught in public controversy3Bitcoin Spot ETF Volume Hits $1B in 10 Minutes
Flash
- 06:56Garrett Jin: The biggest problem in the crypto industry is the lack of cash flow; exchanges and stablecoins make tens of billions of dollars in profits every year, yet no capital flows back into the market.ChainCatcher reported that on October 14, Garrett Jin stated, "The biggest problem in the cryptocurrency sector is that most projects lack cash flow. In contrast, TikTok was sold in the US for $14 billion, while many cryptocurrency projects with negative cash flow are valued at tens of billions of dollars. This has led to capital outflows from bitcoin and ethereum. Exchanges and stablecoins extract tens of billions of dollars from the industry every year, yet there is no healthy capital flowing back into the market. As a result, the market lacks liquidity and upward momentum." Previous reports noted that Garrett Jin was the whale who made headlines for selling over $4.23 billion worth of BTC and reallocating to ETH before the flash crash on October 11.
- 06:56Data: BTC OG whale's 10x BTC short position is valued at $492 millionAccording to ChainCatcher, Hyperbot data shows that a BTC OG whale has increased their 10x BTC short position to $492 million (492,592,692 USD), with an entry price of $115,288.4 and a liquidation price of $124,262.8.
- 06:51Garrett Jin: Trading platforms and stablecoins extract tens of billions of dollars from the market every year without any capital flowing back inJinse Finance reported that Garrett Jin, the whale who accurately shorted before the previous crash and publicly sold over $4.23 billions worth of BTC to switch positions to ETH, stated: The biggest problem in the crypto space is that most projects have no cash flow. In contrast, TikTok's sale price in the United States was $14 billions, while many crypto projects with no cash flow are valued at tens of billions of dollars. This causes capital to be diverted away from core assets like bitcoin and ethereum. Meanwhile, trading platforms and stablecoins extract tens of billions of dollars in profits from the entire industry every year, but do not reinvest healthy capital back into the market. As a result, the market lacks liquidity and upward momentum.