Abraxas Capital Faces $167M Loss on Crypto Shorts Amid Market Surge

Abraxas Capital is experiencing significant losses on its short positions in several cryptocurrencies as the market continues to rise. The firm holds short positions in Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Sui (SUI), Hype (HYPE), and Fartcoin across two wallets on the HyperLiquid platform. These positions are currently facing a floating loss exceeding $167 million.

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