Abraxas Capital Withdraws $92 Million in Ethereum, Signals Institutional DeFi Shift

Investment firm Abraxas Capital made headlines by withdrawing $92 million in Ethereum from Binance and Kraken, a move signaling growing interest in decentralized finance (DeFi). This withdrawal highlights the strategic reallocation of ETH toward DeFi protocols Aave and Compound. Notably, nearly 22,000 ETH was deposited into these lending platforms, indicating a shift away from central exchange holdings towards yield-generating opportunities.