Trend Research deposits $57.1M in borrowed ETH to Binance after selling at a loss

An address believed to belong to Trend Research borrowed 27,000 ETH ($57.11 million) from the crypto lending protocol Aave and deposited the funds into Binance four hours ago, EmberCN reported. The address had previously deposited 100 million USDC as collateral on Aave. Trend Research previously withdrew approximately 790,000 ETH ($2.59 billion) at an average price of $3,267 between November of last year and this past February. It was later reported that on Feb. 7, the firm sold its entire position at a loss of around $747 million.