Trend Research Dumps Over 400K as Liquidation Risk Rises
Trend Research has sharply reduced its Ether exposure after the recent market crash forced the treasury company to sell assets to repay loans. It held about 651,170 Ether (AETHWETH) on Sunday, but that amount fell by 404,090 to roughly 247,080 by Friday. Blockchain data platform Arkham shows the firm transferred 411,075 ETH to Binance since the start of the month.
The sales occurred as Ether plunged almost 30% over the past week, dropping to as low as $1,748 on Friday; it traded at $1,967 at the time of writing. Trend Research is linked to Jack Yi, founder of Hong Kong-based crypto venture firm Liquid Capital. Yi built the company’s position by buying ETH on an exchange, using it as collateral on Aave to borrow stablecoins, then using those funds to acquire more ETH.
Hong Kong