According to Lookonchain, a whale-controlled address 0x8522 accumulated 8,337 XAUt worth about $38.4 million over the past 20 days while borrowing 18.3 million USDe on Aave via a looped borrowing strategy (source: Lookonchain). Lookonchain reports that the buying activity and USDe borrowing are tied to the same address, indicating leveraged exposure to tokenized gold through XAUt financed by debt on Aave (source: Lookonchain). Lookonchain cites the address portfolio page on Debank for on-chain verification of the transactions (source: Lookonchain).