A wallet suspected to belong to Trend Research borrowed and shorted 27,000 ETH four hours ago.

CoinFeed reported on March 13th that, according to on-chain analyst Yu Jin, a wallet suspected to belong to Trend Research borrowed ETH through Aave and transferred it to Binance. Four hours ago, it borrowed and shorted 27,000 ETH (US$57.11 million). This address withdrew 303 million USDC from Binance on February 11th, just days after Trend Research liquidated its ETH holdings in February, transferring all its ETH to Binance. A week ago, this address transferred 150 million USDC to Binance, one transaction using a known Trend Research Binance deposit address. This address has now staked 100 million USDC on Aave and borrowed 27,000 ETH, which has already been transferred to Binance.