On September 3rd, it was revealed that two accounts linked to Abraxas Capital shorted cryptocurrencies worth over 919.9 million USD on Hyperliquid, including BTC and ETH, leading to a loss exceeding 106.6 million USD.
Abraxas Capital’s holdings include approximately 2.49 billion USD in BTC and 486 million USD in ETH, indicating a strong market presence. The firm is potentially engaged in funding rate mining activities, leveraging opportunities in the crypto market.
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