💪 Abraxas Capital (Managing AUM $3.6 billion).

👉 Currently, they are shorting on Hyperliquid with 5 quite large positions totaling $785 million: $BTC ($340 million), $ETH ($304 million), $SOL ($68 million), $HYPE ($69 million), and $SUI ($2.56 million).

💸 Today, as the market surged, the total recorded loss reached $96.48 million!

🧵 These may be the positions they are shorting to hedge for the amount they hold as well!