CoinVoice has recently learned that, according to on-chain analyst Yu Jin's monitoring, the "insider trader" @qwatio redeemed 10 million USDC from Maker and then transferred it to Hyperliquid to continue shorting.

Currently, a short position worth 232 million USD has been opened:

40x short of 1273 BTC, worth 150 million USD, opening price 117,828 USD, liquidation price 122,789 USD; 25x short of 27,700 ETH, worth 82.42 million USD, opening price 2,966 USD, liquidation price 3,196 USD. [Original link]