Trend Research Borrows 30 Million USDT from Aave and Transfers to Binance

According to monitoring by Yu Jian, after the price of ETH fell below its cost basis, Trend Research (1609...fd95) borrowed 30 million USDT from Aave today and transferred it to Binance. Since November of last year, this institution has been purchasing ETH through leveraged borrowing. It currently holds 626,000 ETH, valued at $1.94 billion, with an average cost of approximately $3,186, resulting in an unrealized loss of about $50 million. The institution's outstanding loan amount on Aave is $1 billion USDT, representing a leverage ratio of 2x.