According to on-chain analyst Yu Jian's monitoring, 4 hours ago, a wallet (0x25Ff...BEAC) suspected to be related to Trend Research deposited 100 million USDC as collateral on Aave and borrowed 27,000 ETH, which was subsequently transferred to Binance for shorting, with a total value of $57.11 million.
This address had withdrawn 303 million USDC from Binance on February 11th. One week ago, the address transferred 150 million USDC to Binance, with one of the transactions using a known Binance deposit address associated with Trend Research.