Abraxas Capital Enters Cryptocurrency Market With Significant Transactions

Abraxas Capital has been actively involved in the crypto market, as evidenced by significant financial moves revealed through on-chain data. TechFlow reports that Abraxas Capital borrowed $240 million USDT from decentralized lending platform Aave on May 13th. These funds were then deposited into a centralized exchange (CEX). This action follows earlier reports of Abraxas Capital withdrawing approximately $399 million worth of ETH, equivalent to 185,309 units, from an exchange. These transactions demonstrate Abraxas Capital’s active participation in the crypto space.