PANews reported on July 1 that according to monitoring by on-chain analyst @ai_9684xtpa, Abraxas Capital Mgmt withdrew 32,000 ETH (worth $111 million) from Spark Protocol a few minutes ago, and then recharged all of it into Bitfinex.

This morning, the institution also deposited 15,000 ETH into Spark as margin, borrowed 25 million USDC and transferred it to Binance.