Abraxas Capital's short selling strategy for mainstream currency pairs resulted in losses exceeding $107,000,000.00

On July 14, according to on-chain analysis platform Lookonchain (@lookonchain), Abraxas Capital's two wallets on the Hyperliquid trading platform have cumulatively lost over $107.00 million by shorting cryptocurrencies such as Bitcoin ($BTC), Ethereum ($ETH), and Solana ($SOL) to hedge their spot holdings. [Deep Tide TechFlow]