Metalpha uses 18,000 ETH as collateral to borrow $20 million in stablecoins, and deposits them back into CEX
According to a report by Jinse Finance, monitored by Onchain Lens, Metalpha has deposited 18,000 ETH into Spark as collateral and borrowed 12 million USDS and 8 million DAI, converting them into 20 million USDC, which was then deposited back into CEX. This morning, it was reported that the crypto asset management firm Metalpha withdrew 18,000 ETH (worth approximately $48.45 million) from Binance two hours ago.
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