The address marked as Multicoin Capital borrowed 6,200 ETH from Aave 9 hours ago and transferred it to Coinbase

Nansen has identified an address that has been shorting the ETH/BTC exchange rate and marked it as belonging to Multicoin Capital. This address borrowed ETH by mortgaging BTC through Aave in December of last year and then transferred it to Coinbase. The address borrowed 6,200 ETH (approximately $20.52 million) from Aave again 9 hours ago and transferred it to Coinbase. Currently, the address's borrowing situation on Aave is as follows: it has mortgaged 2,648.4 WBTC (approximately $174 million) and borrowed 35,892.6 ETH (approximately $117 million). All the borrowed ETH was immediately transferred to Coinbase. The health ratio of the borrowing is 1.15 (if the ETH/BTC exchange rate rises to around 0.0575, liquidation will occur).