James Fickel (@jamesfickel) just took a heavy loss of ~22,500 ETH (worth $55 million) after going long on the BTC/ETH trading pair!
From January 10 to July 1, James borrowed 3,061 WBTC (worth $172 million) from #Aave and swapped it for 56,445 ETH at a rate of 0.05424. Fast forward to August 7, he spent 12 million USDC to buy 211 WBTC and exchanged 47,476 ETH for 1,888 WBTC (worth $113.5 million) to start paying down his Aave debt.
Currently, he has 980 WBTC (valued at $132 million) in debt on Aave, taking a substantial net loss of around 22.5K ETH ($55 million).
For more details, check out his wallet address: 0xd85351181b3f264ee0fdfa94518464d7c3defada.
