Trend Research recently withdrew 30 million USDT from Binance to the blockchain to repay part of its outstanding loans. The institution holds 651,300 ETH valued at $1.85 billion but faces an unrealized loss of approximately $215 million due to an average purchase price of $3,180 per ETH. It currently has a leveraged position with 1.03 billion USDT borrowed on Aave at about 2.2x leverage.