It's not as stupid as you think. It trades futures for funding fees, and the spot order buys exactly the same volume as futures, so it doesn't lose anything but earns a lot from funding fees.

$PIPPIN to kill this whale, the floor must be a lot of money, right? If it goes up to 2, then those whale guys have accumulated since before with the little fish accumulating spot to sell comfortably🥴. But this whale has already played a long hedge order from before, I think somewhere around 0.17-0.18 but I don't know the scale. What you see the whale sharing is not necessarily the total loss, because if it's that much of a loss, then the smart money should be higher. I think the liquidation price for that guy must also be tens of kilometers away🥴 over 20. Now he's just lying there. But if MM+ the floor reaches there, then we can long pick up the gold mine😁. That's why the whale is confident to watch the driver perform.