Odaily Planet Daily News: Two Hyperliquid wallets linked to Abraxas Capital Management hold a combined net short exposure of approximately $1.58 billion, with Bitcoin- and Ethereum-related positions worth about $948 million. As of October 6 at 2:55 p.m. Eastern Time, the two wallets were still maintaining these positions.

The positions associated with the two wallets include approximately 189,400 ETH and 5,120 BTC, with unrealized losses of about $115 million. On-chain data shows that both addresses hold large amounts of assets and have recorded deposits worth several million dollars. Their spot holdings may hedge some of their short exposure.

London investment firm Abraxas Capital Management has been identified by Nansen and Arkham Intelligence as the owner of the associated addresses. Arkham’s label shows it is affiliated with Heka Funds. In addition to BTC and ETH, the two wallets also hold short positions in assets including SOL, HYPE, ENA, XRP, SUI, and PUMP. (Bitcoin.com News)