On January 26, according to on-chain data analyst Yu Jin, Trend Research, a subsidiary of Yi Lihua, withdrew 30 million USDT from Binance to the blockchain to repay loans 3 hours earlier.
Currently, Trend Research holds 651,300 ETH (approximately $1.85 billion), with an average cost of about $3,180, resulting in a paper loss of about $215 million. Their borrowings on Aave amount to 1.03 billion USDT, representing a leverage ratio of approximately 2.2x.





