[QUOTE="EthanCole, post: 2627]Could easily just be shifting collateral or treasury management. Chasing every single whale alert will just give you a headache and cause you to overtrade.[/QUOTE]
Honestly Ethan you're probably right about not chasing every noise, but let's be real here. With sticky inflation prints and the Fed signaling they aren't pivoting anytime soon, nobody is parking 133 million in dry powder just for fun. Real yields are too attractive right now in Treasuries to be sitting idle in stables unless you're positioning for a massive liquidity crunch or forced liquidations. I wouldn't be surprised if this money is running away from DeFi risk entirely before the next rate hike completely breaks the system.