Analysis: Garrett Jin Involved in Creating Ethereum Staking Pool, Around 886,000 ETH Previously Centralized

BlockBeats News, January 6th, on-chain detective Eye revealed that the "BTC OG Insider Whale" agent Garrett Jin, through his company XHash, participated in creating two Ethereum staking pool contracts — Eth2Depositor (0x2F4) and EthBatchDepositor (0xE00).

Data shows that approximately 886,440 ETH (approximately $40.7 billion) was deposited into the above-mentioned staking pools, with a staking period of about four months. The fund source was traced back to the sale of BTC on Hyperliquid/Hyperunit during the 8-9 month period. Recently, this portion of ETH has been completely unstaked.

Further investigation shows that the related company is registered on LinkedIn under the name "Hypercieve," located in Singapore, with one of the co-founders being Jack Chen. Jack Chen is also the founder of the Bitcoin mining company SpiderPool. It is worth noting that Jack Chen and Garrett Jin once worked in the same department at an exchange:

Jack Chen: COO (2014–2016)
Garrett Jin: COO (2014–2015)

Eye pointed out that the two have long been closely cooperating, and Jack Chen is highly likely to be one of the key figures managing a fund pool of around $10 billion.