On-chain analyst Yu Jin reports that a wallet associated with Trend Research borrowed 27,000 ETH from Aave after posting 100 million USDC as collateral and then transferred the funds to Binance to enter a short position, a move valued at $57.11 million. The wallet address had withdrawn 303 million USDC from Binance on February 11. A week earlier, 150 million USDC was deposited to Binance, with one deposit using a known Trend Research Binance deposit address. On-chain analyst Yu Jin reports that a Trend Research-associated wallet borrowed 27,000 ETH from Aave after posting 100 million USDC as collateral and then transferred the funds to Binance to enter a short position, a move valued at $57.11 million.
The wallet address had withdrawn 303 million USDC from Binance on February 11. A week earlier, 150 million USDC was deposited into Binance, with one deposit using a known Trend Research Binance deposit address. This pattern underscores ongoing activity at the intersection of DeFi lending and centralized exchange trading, illustrating how collateralized positions can be deployed across venues.
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