According to the monitoring of Ai Yi, an on-chain analyst, three addresses of Abraxas Capital Mgmt redeemed USD 91.22 million from Ethena in the past week, ranking first in terms of fund size among redemption addresses. It is reported that there is only one week left before the end of Ethena's second quarter airdrop event (September 2). Currently, Ethena TVL is USD 2.92 billion, which has fallen below USD 3 billion, and has lost more than USD 600 million compared with the peak TVL of USD 3.612 billion in early July.