Ethereum Whale Pulls $58 Million ETH From Binance After Controversial $100 Million Short Bet
A wallet linked to Trend Research withdrew $58 million in ETH from Binance after opening a leveraged short position via Aave.Summary
A wallet associated with Trend Research executed a rapid reversal of a leveraged trade, withdrawing 27,000 Ethereum (ETH), valued at $58 million, from Binance. This withdrawal followed the wallet supplying $100 million USDC to Aave V3 to borrow the 27,000 ETH, which was then sent to Binance to establish a short position. The sequence, which occurred shortly after a bullish call by Jack Yi, has drawn scrutiny from on-chain analysts regarding whether institutional firms use DeFi lending protocols like Aave to build and unwind large directional bets before public announcements. The move suggests institutional players are increasingly combining DeFi borrowing with centralized exchange execution to manage large positions discreetly.
(Source：BeInCrypto)