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💸TRADING FIRM LOSES $686 MILLION AFTER $ETH PRICE CRASH
Trend Research just suffered a $686M loss on a leveraged Ethereum position.
The firm borrowed stablecoins on Aave and used ETH as collateral to build a $2B long position.
As ETH kept falling, their collateral shrank while their debt stayed the same, forcing liquidation.
After ETH hit ~$1,750 on Feb 4, they sold 332,000 $ETH on Binance to repay loans.
$BTC $ETH