Trend Research deposits 772,865 ETH to Binance — looped ~$2.59B ETH long unravels, estimated $747M loss
first published 2026-02-07T07:19:07Z
Trend Research, led by Jack Yi, had built a roughly $2 billion looped long on ether by borrowing stablecoins on Aave against ETH collateral. Ether's slide to about $1,750 on Feb. 4 forced the position to unwind: Arkham estimates a $686 million loss and Bubble Maps shows Trend Research moved ~332,000 ETH (~$700M) to Binance over five days to repay Aave debt. The firm now holds only 1.463 ETH. Yi called the sales risk control and said he remains bullish on ETH and BTC. The episode underscores the risks of highly leveraged looped positions in volatile crypto markets.
AI Analysis
Large, verifiable forced selling: Arkham estimates a $686M loss; Bubble Maps shows ~332,000 ETH (~$700M) moved to Binance over five days after ETH fell to ~$1,750, and the firm was left with 1.463 ETH. Those facts imply significant bearish pressure and market-moving liquidation risk.
Expected Investor Sentiment: Bearish
Potential Market Impact: High
Source Articles
- Ether's recent crash below $2,000 leaves $686 million gaping hole in trading firm's book - CoinDesk
- Solana Price Reclaims $85, but On-Chain Data Tells a More Cautious Story - Coinpedia
- Bitcoin Rebounds Into the Weekend, Ethereum Outperforms: ETH vs BTC, Who Leads Next Week? - Coinpedia
- Institutional ETH Holder Capitulates With 772,865 ETH Deposit to Binance - U.Today
- Ethereum and Solana Are Getting Hit Hard. Are These Top Cryptocurrencies Buys on the Dip? - Yahoo Finance
