Abraxas Capital is shorting to hedge spot positions, currently with a floating loss of over $107.00 million

According to Lookonchain monitoring, two addresses of Abraxas Capital have recently been continuously shorting multiple tokens such as $BTC, $ETH, and $SOL to hedge their spot positions. However, with the market rising, the hedge portfolio is currently showing a floating loss of over $107.00 million. [Odaily Planet Daily]