Garrett Jin: Exchanges and stablecoins extract hundreds of billions of dollars from the encryption industry every year, but there is no healthy capital flow back into the market.

According to Deep Tide TechFlow news, on October 14, Garrett Jin stated on social media, "The biggest problem in the cryptocurrency space is that most projects lack cash flow. In contrast, TikTok was sold in the US for $14 billion, while many cryptocurrency projects with negative cash flow are valued at hundreds of billions. This has led to funds flowing out of Bitcoin and Ethereum. Exchanges and stablecoins extract hundreds of billions from the industry each year, but there is no healthy capital flow back into the market. As a result, the market lacks liquidity and upward momentum."

According to previous reports, analysts stated that addresses that will prominently exchange over 35,000 BTC for ETH starting in August and those that opened over $1.1 billion in short positions for BTC and ETH before the flash crash on October 11, profiting over $80 million, both point to former exchange executive Garrett Jin.