According to @lookonchain, wallet 0xed41 purchased 9,638 ETH in spot for about $28.76M via Hyperliquid and Lighter, with transactions viewable on hypurrscan.io and lighterpulse.xyz and the address profile on intel.arkm.com (source: @lookonchain; hypurrscan.io; lighterpulse.xyz; intel.arkm.com). The same wallet simultaneously opened a 20x short on 9,940 ETH worth about $29.3M as a hedge, as reported by @lookonchain with position data reflected on lighterpulse.xyz and hypurrscan.io (source: @lookonchain; lighterpulse.xyz; hypurrscan.io). Combined notional across the long spot and leveraged short legs totals roughly $58M based on amounts reported by @lookonchain, with activity dated Dec 19, 2025 on X (source: @lookonchain).