According to EmberCN monitoring, Trend Research, a subsidiary of LD Capital, is currently estimated to hold around 177,000 ETH (approximately $453 million), part of which was acquired by borrowing USDT from Aave using ETH as collateral and then purchasing more ETH. A total of 230 million USDT has been borrowed, with a leverage ratio close to 2x. Their average ETH acquisition cost is around $2,240, and they currently have an unrealized profit of about $55 million.