Garrett Jin: The biggest problem in the crypto industry is a lack of cash flow, with exchanges and stablecoins siphoning off billions of dollars each year without capital flowing back into the market

BlockBeats News, October 14th, Garrett Jin, a whale who previously accurately shorted before the crash, conducted a high-profile sell-off of over $4.23 billion worth of BTC to switch to ETH. He stated in a post: "The biggest problem in the crypto space is that most projects do not have cash flow. In contrast, TikTok was sold in the U.S. for $14 billion, while many cash flow-negative crypto projects are valued at several tens of billions of dollars. This leads to funds being diverted away from core assets such as Bitcoin and Ethereum."

Meanwhile, exchanges and stablecoins extract billions of dollars in profits from the entire industry each year but fail to reinject healthy capital back into the market. As a result, the market lacks liquidity and upward momentum."

Earlier today, according to "on-chain detective" Eye, a significant development was disclosed in an investigation into an insider trading group. The investigation indicates that Garrett Jin, the whale who previously conducted a high-profile switch from ETH to BTC, may have been just an agent, and the true insider information source points to a group of White House insiders.