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Abraxas Capital Moves $168 Million in Bitcoin to Kraken

Arkham data indicates the Heka Fund deposited over 2,000 BTC to the crypto exchange, later transferring $15 million USDC to lending protocol Morpho.

BTC
USDC
MORPHO

Summary

Abraxas Capital’s Heka Fund transferred 2,038 BTC, valued at $168.21 million, to Kraken, according to Arkham data. The transaction occurred two hours prior to reporting. Subsequently, the same wallet address sent 15 million USDC to Morpho, a blockchain-based lending protocol. These movements reflect significant fund activity involving both major cryptocurrency assets and decentralized finance platforms.

Terms & Concepts
  • USDC: A stablecoin pegged to the U.S. dollar, used for blockchain transactions and trading.
  • Morpho: A decentralized lending protocol that enables peer-to-peer crypto asset borrowing and lending.
  • BTC: The ticker symbol for Bitcoin, the largest and most widely recognized cryptocurrency.