Ethereum Whale Moves $206M Off Bitfinex to Spark for $101M DAI Borrowing

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12 months ago bitnews

A significant movement in the cryptocurrency world saw over $206 million worth of Ethereum ($ETH) being transferred out of the Bitfinex exchange. The funds, managed by London-based Abraxas Capital Management, were reportedly used to secure a loan on the decentralized finance (DeFi) platform, Spark. Abraxas borrowed 101 million DAI, a U.S. dollar-pegged stablecoin, which was