Garrett Jin transfers 53M USDT from Binance to Aave for loan repayment

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Garrett Jin, a prominent Bitcoin whale, moved 53.12 million USDT from Binance to Aave to repay a loan, in connection with the liquidation of 5,000 Bitcoin. Utilizing DeFi protocols like Aave for such strategic repayments is common among crypto whales to manage loans and mitigate losses during market volatility, as it allows them to maintain liquidity without selling off large portions of their holdings. Despite the recent liquidation, Jin retains a significant holding of over 30,000 Bitcoin, valued at approximately $2.09 billion.

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