#zec Garret Bullish A screenshot Garret Bullish just shared on Twitter shows that last December 24, he withdrew 68.08K ZEC from Binance, then worth $29.7 million. The same wallet withdrew another 134K ZEC a few minutes ago, worth $58.6 million.
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He then shielded all 202.08K ZEC, but a few minutes later he unshielded it, and he still holds the entire amount to this day.
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Based on $1,580 per ZEC, these holdings are now worth $320 million, up from $88.3 million at the time.
Therefore, his short position on Hyperliquid of 38K ZEC ($60 million) currently shows an unrealized loss of $34.5 million, which can be seen as a partial hedge against his spot holdings.