Abraxas Capital is experiencing significant financial pressure as bullish market conditions have led to a floating loss of $244.78 million on their short positions in cryptocurrencies. The firm holds these positions in Bitcoin ($BTC), Ethereum ($ETH), Solana ($SOL), Hype ($HYPE), and Sui ($SUI) across two different wallets. The majority of the loss, amounting to over $188.7 million, is attributed to their short position in Ethereum.
Abraxas Capital Faces $244.78M Loss on Crypto Short Positions
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