💵 Crypto Fund #AbraxasCapital shorts crypto for $800 million with leverage x10.

😭 Arkham pulled the on-chain address and their current unrealized loss is about $115 million.

🧪 Liquidation $BTC around $156,000, and $ETH — $5,100, so they'll be liquidated not so soon. On their website, Abraxas boasts of the meticulous discipline of traditional funds and licensed products in the EU.

Also, at the end of June, the same wallets recorded + $87.6 million in profits from shorts — at that time, the market sharply declined, and they looked like geniuses. Now the cycle has reversed, and profits have turned into mirrored losses.

The fund decided to adopt the investment strategy of the gambler #JamesWynn ? 😆