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Leveraged Ether Bet Implodes as Trend Research Suffers $686 Million Hit After ETH Slides Below $2,000
A dramatic selloff in ether this week turned an aggressively bullish wager into a costly unraveling for Trend Research, a trading firm led by Liquid Capital founder Jack Yi, after ETH prices plunged below the $2,000 mark. Trend Research had spent months constructing a massive long position in ether valued at roughly $2 billion. The strategy relied on a high-risk “looped” structure: the firm deposited ether as collateral on the DeFi lending protocol Aave, borrowed stablecoin
Feb 92 min read
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