Abraxas Capital's 10x BTC, ETH, SOL Short Combo is currently at a $25 million unrealized loss

BlockBeats News, May 22nd, according to LookIntoChain monitoring, Abraxas Capital is using 2 wallet addresses (0xB83D and 0x5b5d) to short BTC, ETH, and SOL with 10x leverage on Hyperliquid, possibly to hedge their spot holdings.

They currently hold short positions of 2,572 BTC (approximately $288 million), 57,317 ETH (approximately $151 million), and 504,957 SOL (approximately $89.4 million), with unrealized losses exceeding $25 million.