PANews reported on September 3rd that Arkham monitoring revealed that two accounts affiliated with Abraxas Capital had shorted over $919.9 million worth of cryptocurrencies on the Hyperliquid platform, including BTC, ETH, HYPE, and WLFI. Currently, the two accounts have lost over $106.6 million. The accounts' Bitcoin closing prices were $151,530 and $149,910, respectively.

Note: Abraxas Capital entities also hold over $2.49 billion in BTC and $486 million in ETH, positions with positive delta (i.e., net long, not net short). They may be engaging in funding rate mining on Hyperliquid. They may also hold other positions on Binance or CEX, but these positions are not visible on-chain.