💸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
BTC1,24%
ETH1,08%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)