Treasury firm Trend Research has sold over $800 million worth of Ethereum this week to manage loan obligations amid a sharp market decline. The firm transferred over 411,000 ETH to Binance, reducing its holdings by more than half as Ether’s price fell nearly 30% to as low as $1,748. Founder Jack Yi stated he remains bullish but is focused on risk management as the firm’s loans near liquidation thresholds.
Treasury company Trend Research significantly reduced its Ethereum exposure this week, selling assets to repay loans during a market crash. The firm’s holdings of wrapped Ether plummeted from about 651,170 to roughly 247,080 ETH from Sunday to Friday.
It transferred over 411,000 ETH to cryptocurrency exchange Binance since the start of the month, according to blockchain data. These moves coincided with Ether’s price dropping almost 30% in a week, trading around $1,967 after hitting a low of $1,748.
The firm faces multiple liquidation levels for its loans between $1,698 and $1,562 per ETH, wrote data platform Lookonchain. Founder Jack Yi, linked to Hong Kong’s Liquid Capital, said he remains bullish while focusing on risk management.
Yi admitted he called a market bottom too early but will wait for a recovery. “I will continue to wait for market recovery while ‘managing risk,'” he stated in a social media post.
Trend Research began aggressively accumulating ETH after the major liquidation event of October 2025. The unlisted firm would have ranked as a top-three Ether holder late last year.
In contrast, the largest public corporate holder, Bitmine, was sitting on approximately $8 billion in unrealized profit. The firm built its position by using borrowed stablecoins to purchase more Ethereum.
