The Chinese Company That Gained Much Attention Due to Its Losses Closes All Its Ethereum (ETH) Positions! Here’s the Total Loss!

Trend Research, the Chinese company that stood out for its confidence in and support of Ethereum ($ETH) and attracted attention with its purchases, has now closed all of its positions.

Having suffered significant losses due to the declines since October, Trend Research has closed all of its Ethereum positions.

According to Arkham data, Trend Research, founded by Jack Yi, closed its last Ethereum position on Sunday.

At its peak, they held $2.1 billion in Ethereum long positions, making them the largest $ETH long position holders in Asia.

However, as the declines occurred, the company began liquidating its $ETH positions, and now its on-chain accounts are completely cleared, resulting in a final profit/loss of -$869 million.

While Trend Research was in the news due to losses in its Ethereum investment, it admitted in a statement last week that it was wrong about Ethereum.

Founder Jack Yi stated that he was one of those feeling the most pressure due to the decline in Ethereum, admitting that it was a mistake to be prematurely optimistic about Ethereum after closing positions at peak levels.

*This is not investment advice.