Abraxas Capital Accounts Reach $429 Million in Hyperliquid Profits

The two Hyperliquid accounts linked to Abraxas Capital had combined cumulative profits of $429 million and short positions of $1.05 billion as of Nov. 9. The profit total was above the more than $353 million recorded in a snapshot of the accounts on Oct. 25 . That snapshot showed short positions above $1.29 billion. A Nov. 8 snapshot put the accounts' short positions at $451.68 million. Abraxas has used a market-neutral strategy since 2018, shorting crypto holdings to limit exposure to price swings and collect funding payments.