Woofun AI reports that Garrett Jin, founder of the defunct Bitforex exchange, has aggressively expanded his Bitcoin long exposure by adding 600 BTC. This strategic accumulation marks a significant pivot in his trading book, leveraging recent market rallies to offset previous downturns.

EmberCN data indicates the addition occurred at approximately $79,000, shortly after Bitcoin briefly retreated from above $80,000. The move increases his total leveraged long position to 1,868 BTC, valued at roughly $147 million, with an average entry price of $77,090.

Structurally, this expansion solidifies his bullish stance despite the asset's recent volatility.

The deeper driver of this adjustment is the reversal of a severe drawdown; in early July, the same position faced an unrealized loss of up to $23 million as Bitcoin traded below his average entry.

However, the recent surge has flipped the 3x leveraged cross long into profit, generating an unrealized gain of approximately $2.78 million at current levels. This rapid swing highlights the high-risk nature of his strategy.

Per Woofun AI, Jin's background as the founder of Bitforex, which collapsed amid fraud allegations and regulatory actions, adds scrutiny to his activities.

Concurrently, he holds a 2x leveraged cross short on Zcash (ZEC), comprising 32,760 ZEC (about $25.28 million) at an average entry of $444. That short is currently showing an unrealized loss of approximately $10.74 million, contrasting sharply with his Bitcoin gains.

This divergence underscores the outsized risk leveraged positions carry for high-profile figures. For retail traders, it serves as a reminder of the volatility inherent in cryptocurrency markets and the importance of risk management. The ongoing activity of controversial figures like Jin continues to influence market dynamics, emphasizing the value of transparent on-chain data.