Abraxas Capital minted 20 million DAI on MakerDAO and converted it into USDC and deposited it into Binance
Data tracked by Arkham shows that this morning, Abraxas Capital management company withdrew $54.6 million worth of ETH from Bitfinex and used it to mint 20 million DAI on MakerDAO. They then exchanged the DAI for USDC and deposited 20 million USDC into Binance. They currently hold nearly $100 million in ETH and wstETH in MakerDAO's vaults and have borrowed nearly 50 million DAI against it as collateral.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ACT breaks through $0.78, with a 24-hour increase of 38.0%
US spot Bitcoin ETFs saw a net inflow of $320 million yesterday
US spot Ethereum ETF had a net inflow of $332.9 million yesterday