TechFlow reported on January 20 that according to crypto analyst Emmett Gallic (@emmettgallic), addresses associated with Bhutan's sovereign wealth fund, Druk Holdings, appear to be leveraged long on Ethereum. These addresses withdrew 42,000 ETH and $54 million in USDT from Binance, then swapped the USDT for ETH, deposited ETH into Aave, borrowed $275 million in USDT, and used the funds to purchase additional ETH.
Currently, the address holds approximately 117,000 ETH, worth around $459 million.




