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TechFlow news, according to Arkham monitoring, today Abraxas Capital Management withdrew $54.6 million worth of ETH from Bitfinex, used it to mint 20 million DAI via MakerDAO, converted the DAI into USDC, and then deposited 20 million USDC into Binance.
The firm currently holds nearly $100 million in ETH and wstETH within its MakerDAO vaults, using them as collateral to borrow nearly 50 million DAI.
According to Arkham monitoring, today Abraxas Capital Management withdrew $54.6 million worth of ETH from Bitfinex, used it to mint 20 million DAI via MakerDAO, converted the DAI into USDC, and then deposited 20 million USDC into Binance. The firm currently holds nearly $100 million in ETH and wstETH within its MakerDAO vaults, using them as collateral to borrow nearly 50 million DAI.
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