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Trend Research Transfers 30M USDT for Debt Repayment Amidst $215M Unrealized ETH Loss

Trend Research, led by Li Hua Yi, recently executed a significant on-chain transaction, withdrawing 30 million USDT from Binance approximately three hours ago to service outstanding loans, according to on-chain data analyst Yu Jin. The firm's substantial holdings include 651,300 ETH, currently valued at around $1.85 billion. With an average acquisition cost of approximately $3,180 per ETH, Trend Research is facing an estimated unrealized loss of $215 million on these assets. The entity's total borrowing on Aave amounts to 1.03 billion USDT, reflecting an overall leverage ratio of approximately 2.2x.
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