Something about this all doesn't seem right. 

No way has $1.4bn worth of ETH been purchased over a weekend and it had this little impact on price - OTC or not, it still has to come from somewhere, CEX Eth levels at a 9 year lows, someone's got to market buy at some point.

Audited POR updated. https://t.co/CB7wduvJHd

Yes but is this ETH all owned by bybit? How much of it is loans? How much of those loans are collateralised by BTC? what happens if the ETH/BTC ratio moves against you, are you still 1:1 ?

Dray11 | EVMav #1

Something about this all doesn't seem right. 

No way has $1.4bn worth of ETH been purchased over a weekend and it had this little impact on price - OTC or not, it still has to come from somewhere, CEX Eth levels at a 9 year lows, someone's got to market buy at some point.

https://x.com/Dray11__/status/1893959190416093257?t=JIhbfpghkhES3FDayz455A&s=19

Let's keep the tin foil hat on for a moment here...

BREAKING: 

Binance has been selling massive amounts of $ETH in the last few hours. 

Do we need to be worried? https://t.co/aezjs9gVhb

No way Binance could be trying to help bybit here by manipulating the price and suppressing the ratio while they try to pay back their BTC collateralised loans right?

Let's keep the tin foil hat on for a moment here...
https://x.com/Dray11__/status/1893968489855017155?t=o7vKMmhzxn_r1iXDkVS2KQ&s=19