Shorting crypto goes horribly wrong, firm loses millions
On-chain data from market analytics firms Lookonchain and Arkham Intelligence suggest that London-based crypto asset manager Abraxas Capital is suffering almost $20 million in unrealized losses because of shorting multiple cryptocurrencies.
Abraxas Capital Management Ltd. manages alternative assets and offers financial investment management and consultation.
Lookonchain reports that two Abraxas accounts have taken large short positions in Bitcoin, Ethereum, Solana, Sui network, and Hyperliquid to hedge their spot positions, resulting in over $190 million in unrealized losses.
The two Abraxas accounts held more than $190 million in unrealized losses, including a short position of 113,819 Ether (ETH) worth $483 million, which is down more than $144 million in unrealized losses.
Abraxas manages approximately $3 billion in assets across a heavily Ether-weighted portfolio estimated at $648.18 million focused on ETH-related assets. It also includes AAVE-wrapped ETH, staked ETH, and restaked ETH, and some positions in Avalanche (AVAX) and other smaller altcoins.Liquidations are an important part of crypto markets, where traders often take out leverage against borrowed money to trade, especially when they have no remaining balance to cover losses.
If that happens, the exchange automatically closes the trade to prevent further downside from the position.
When this occurs, it can impact price movements within the crypto market. If many liquidations occur simultaneously, it can trigger a chain reaction of sudden buying or selling across the market.
Interestingly, Lookonchain also flagged Galaxy Digital (GLXY) for moving 224,000 Solana, valued at $41.12 million, to Binance and Coinbase, which combined begs the question of whether Galaxy Digital will sell large amounts of tokens going forward.
Shorting crypto goes horribly wrong, firm loses millions first appeared on TheStreet on Aug 11, 2025
This story was originally reported by TheStreet on Aug 11, 2025, where it first appeared.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 minutes ago
- Yahoo
STD Diagnostic Market Forecast and Company Analysis Report 2025-2033 Featuring Siemens, Abbott, MedMira, QIAGEN, Danaher, F. Hoffmann-La Roche, Diasorin, BioMeriuex, Hologic, Bio-Rad Laboratories
The STD Diagnostic Market is projected to reach $17.93 billion by 2033, growing from $9.82 billion in 2024 at a CAGR of 6.92% during 2025-2033. Key growth drivers include increased STD prevalence, technological advancements in diagnostics, and enhanced accessibility to healthcare. Government initiatives and improved public awareness also bolster the market. Segments analyzed include products, testing types, and global regions, emphasizing the demand for point-of-care testing and at-home kits. Significant developments and challenges such as social stigma and regulatory hurdles are explored. Leading industry players include Siemens Healthineers, Abbott, and F. Hoffmann-La Roche. STD Diagnostic Market Dublin, Aug. 12, 2025 (GLOBE NEWSWIRE) -- The "STD Diagnostic Market - Testing Technologies & Forecast 2025-2033" report has been added to Diagnostic Market is expected to reach US$ 17.93 billion by 2033 from US$ 9.82 billion in 2024, with a CAGR of 6.92% from 2025 to 2033 Increased STD prevalence, public education, government campaigns, improved healthcare facilities, technological advancements in diagnostic equipment, growing need for point-of-care testing, increasing access to healthcare services, and enhanced screening among high-risk populations are the key drivers of the STD diagnostics market. The STD diagnostic market is growing considerably because of many significant factors. There is greater demand for early and accurate diagnosis because STDs are on the rise globally. Systematic testing is being promoted and public awareness is being enhanced through government programs, awareness campaigns, and education programs. Detection accuracy and speed are enhanced by advances in diagnostic technology, including molecular diagnostics and rapid point-of-care testing. Markets are supported by increased access to and infrastructure for healthcare, especially in developing countries. The expansion of the market and the growth of innovation are further supported by the increasing high-risk populations, wider acceptance of in-home testing kits, and the use of digital health solutions for Drivers for the STD Diagnostic Market Developments in diagnostic technologiesThe market is growing due to developments in diagnostic technologies that have significantly enhanced the accessibility, efficiency, and accuracy of sexually transmitted disease (STD) detection. Rapid diagnostic tests, home testing kits, and nucleic acid amplification tests have all revolutionized STD diagnosis by providing convenient and efficient testing choices. These are beneficial in distant or remote areas with poor medical services accessibility. Investments in advanced diagnostic devices have grown with the increased requirement for precise and early detection methods. In June 2023, a spinout company from the University of Birmingham, Linear Diagnostics, was funded to develop a rapid STI test, the UK National Institute for Health and Care Research (NIHR) reported. In reaction to the urgent need for faster and simpler STI diagnosis, the company is working on a 20-minute test to diagnose gonorrhea and chlamydia. The market is growing due to these technical developments that are enhancing early detection efforts and enhanced patient activities and raising awarenessGovernment actions and growing awareness are the major drivers of the STD diagnostics market growth. STIs are on the rise in many parts of the world, says recent research. WHO Member States had a target in 2022 to reduce the annual syphilis cases from 7.1 million to 0.71 million by 2030, a reduction of ten times. However, in 2022, 8 million new syphilis infections were reported among individuals aged between 15 and 49 years, up by over 1 million. The greatest increases were in the Americas and Africa. The necessity of reducing STI rates globally while ensuring that all people have access to prevention, care, and treatment has highly contributed to the demand for better and more accessible testing tools. The CDC's "Get Yourself Tested" program has also been essential in encouraging regular STD screening, among high-risk populations, and increasing awareness of the importance of early diagnosis. These markets are being fueled by a growing number of government-sponsored programs to inform the public and boost demand for STD screening services. The market will be fueled by increased focus on treatment and prevention and on regular incidence of sexually transmitted diseasesOne of the primary driving forces for the necessity for improved diagnostic testing is the growing trend of sexually transmitted illnesses (STIs) globally. Rising infection numbers are brought about by several factors, including numerous sexual partners, unsafe sex, and not knowing the prevention techniques. An estimated one million people contract a STI daily according to the World Health Organization. One of the four primary STIs - trichomoniasis, syphilis, gonorrhea, or chlamydia - infects approximately 500 million individuals a year. The urgency of accurate and timely diagnosis treatments is brought out by the increasing prevalence of these diseases. Governments and healthcare organizations are also funding STI screening programs, which is also expected to grow demand for rapid and accurate diagnosis methods. Advances in self-testing kits, point-of-care testing, and molecular diagnostics have significantly contributed to market growth. Improving early detection, treatment results, and infection control measures has been high on the agenda of healthcare in the STD Diagnostic Market Social Stigma and Privacy ConcernsThe market for STD testing is severely hampered by social stigma and privacy issues. Underdiagnosis and untreated infections result from people avoiding testing out of fear of being judged, discriminated against, or having their privacy violated. This stigma is frequently a result of societal, religious, or cultural traditions that have a negative perception of STDs. People are deterred from getting tested at clinics or medical institutions by privacy concerns over sensitive health information. Consequently, there may be less demand for STD testing, especially in conservative or low-income areas. Increased knowledge, private testing choices, and the provision of discrete at-home testing kits are necessary to remove these obstacles and promote broader adoption and HurdlesThe market for STD diagnostics is severely hampered by regulatory barriers, which postpone the approval and introduction of novel diagnostic procedures. The licensing procedure is complicated and time-consuming for producers because different nations have different and frequently strict regulatory standards. Adherence to safety assessments, clinical validation, and quality standards necessitates significant financial outlays, which can be especially taxing for smaller businesses. The market's growth is slowed by these delays, which restrict the supply of quick and creative diagnostic options. Furthermore, regionally disparate restrictions make it more difficult to enter international markets, raise prices, and prevent the broad use of cutting-edge STD detection tools. Recent Developments in STD Diagnostic Industry BioLytical Laboratories Inc. declared in March 2025 that its INSTI HIV-1/2 Syphilis Test would be available in Australia. In just 60 seconds, this dual HIV-syphilis test yields results, allowing medical providers to promptly diagnose HIV and syphilis and link patients to care. OraSure Technologies, Inc. reported in January 2025 that the FDA's Center for Biologics Evaluation and Research (CBER) had authorized a labeling update for the OraQuick HIV Self-Test. In contrast to its earlier approval for adults aged 17 and above, this update expands the age range of those eligible for the test to include adolescents aged 14 and above. The goal of this modification is to increase younger people's access to HIV testing. Key Players Analysis | Company Overview, Key Persons, Recent Development & Strategies, SWOT Analysis, Sales Analysis Siemens Healthineers AG Abbott MedMira Inc QIAGEN Danaher Corporation (Cephied) F. Hoffmann-La Roche Ltd Diasorin SpA BioMeriuex Hologic Inc. Bio-Rad Laboratories Inc. Key Attributes: Report Attribute Details No. of Pages 200 Forecast Period 2024 - 2033 Estimated Market Value (USD) in 2024 $9.82 Billion Forecasted Market Value (USD) by 2033 $17.93 Billion Compound Annual Growth Rate 6.9% Regions Covered Global Key Topics Covered: 1. Introduction2. Research & Methodology2.1 Data Source2.2 Research Approach2.3 Forecast Projection Methodology3. Executive Summary4. Market Dynamics4.1 Growth Drivers4.2 Challenges5. STD Diagnostic Market5.1 Historical Market Trends5.2 Market Forecast6. Market Share Analysis6.1 By Product6.2 By Type6.3 By Point of Testing6.4 By Countries7. Product7.1 Consumables7.1.1 Market Analysis7.1.2 Market Size & Forecast7.2 Instruments & Services7.3 Software8. Type8.1 Chlamydia Testing8.1.1 Market Analysis8.1.2 Market Size & Forecast8.2 Gonorrhea Testing8.3 Herpes Simplex Virus Testing8.4 Human Papilloma Virus Testing8.5 Human Immunodeficiency Virus Testing8.6 Chancroid Testing8.7 Others9. Location of Testing9.1 Laboratory Testing9.1.1 Market Analysis9.1.2 Market Size & Forecast9.2 Point of Care Testing10. Countries10.1 Market Analysis10.2 Market Size & Forecast11. Value Chain Analysis12. Porter's Five Forces Analysis12.1 Bargaining Power of Buyers12.2 Bargaining Power of Suppliers12.3 Degree of Competition12.4 Threat of New Entrants12.5 Threat of Substitutes13. SWOT Analysis13.1 Strength13.2 Weakness13.3 Opportunity13.4 Threats14. Pricing Benchmark Analysis14.1 Siemens Healthineers AG14.2 Abbott14.3 MedMira Inc14.4 QIAGEN14.5 Danaher Corporation (Cephied)14.6 F. Hoffmann-La Roche Ltd14.7 Diasorin SpA14.8 BioMeriuex14.9 Hologic Inc.14.10 Bio-Rad Laboratories Inc.15. Key Players Analysis For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment STD Diagnostic Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Associated Press
6 minutes ago
- Associated Press
Bark Bark by Dheeraj Bangur Wins Bronze in A' Packaging Design Award
Innovative Beer Packaging Design Recognized for Excellence in Creativity, Functionality, and Brand Identity COMO, CO, ITALY, August 12, 2025 / / -- The A' Design Award, one of the world's most respected and well-recognized awards in the field of packaging design, has announced Bark Bark by Dheeraj Bangur as a Bronze winner in the Packaging Design category. This prestigious recognition highlights the exceptional creativity, functionality, and brand identity of the Bark Bark beer packaging design within the highly competitive packaging industry. The A' Packaging Design Award recognizes designs that demonstrate innovation, sustainability, and aesthetic appeal while effectively communicating brand identity and enhancing user experience. Bark Bark's success in this competition underscores its relevance to current trends and its potential to positively influence packaging industry standards and practices. Bark Bark Beer's packaging design stands out for its bold, playful, and modern aesthetic, which seamlessly blends tradition with contemporary flair. The design features distinct color schemes and finishes for each beer variant, creating a striking visual identity that resonates with the brand's adventurous spirit. The combination of hand-scripted and bold typography, along with the use of the German Shepherd as a symbol, adds a unique and memorable touch to the packaging. This recognition from the A' Packaging Design Award serves as a testament to Dheeraj Bangur's skill, creativity, and dedication to pushing the boundaries of packaging design. It also highlights the potential for Bark Bark Beer's packaging to inspire future designs and set new standards within the industry, driving innovation and excellence in the field. Interested parties may learn more about the award-winning Bark Bark Beer packaging design at: About Dheeraj Bangur Dheeraj Bangur is a design virtuoso and a maestro of communication design who emerged from the illustrious halls of MIT Institute of Design. With a passion for design and art coursing through his veins, he blends creativity with purpose, shaping narratives that transcend the ordinary. As a multiple-time laureate in the realms of packaging and branding, Dheeraj Bangur's journey is a relentless quest to etch his mark on the canvas of design excellence. Beyond design, he is a traveler and a wordsmith, infusing his experiences into his craft to create designs that inspire and elevate the human experience. About Brandsthan Brandsthan is a premier design studio based in Jaipur, India, specializing in branding and packaging design. Led by award-winning designer Dheeraj Bangur, the studio delivers innovative design solutions that resonate with consumers and elevate brands. Brandsthan's work reflects a deep understanding of consumer psychology, market trends, and the importance of design as a strategic tool in business growth. Through a blend of traditional design principles and cutting-edge techniques, Brandsthan creates memorable, functional, and aesthetically pleasing designs that stand out in today's competitive marketplace. About Bronze A' Design Award The Bronze A' Design Award recognizes notable packaging designs that demonstrate a high level of creativity, functionality, and professional execution. These designs are acknowledged for their potential to positively influence industry standards and enhance user experiences. The rigorous selection process involves blind peer review by an expert jury panel of design professionals, packaging industry experts, journalists, and academics. Winning designs showcase a skillful blend of innovation, aesthetics, and technical excellence, contributing to the advancement of the packaging industry and the creation of a better world through good design. About A' Design Award The A' Packaging Design Award is a prestigious international competition that recognizes exceptional packaging designs from innovative designers, forward-thinking agencies, leading manufacturers, and influential brands. Through a rigorous blind peer-review process, entries are evaluated by an expert jury panel based on pre-established criteria, ensuring that only the most outstanding designs are honored. By participating in the A' Design Award, entrants gain global recognition for their creativity and contribute to the advancement of the packaging industry. The ultimate aim of the A' Design Award, now in its 17th year, is to create a better world through the power of good design, motivating designers and brands to develop superior products that positively impact society. Interested parties may learn more about the A' Design Awards, explore jury members, view past laureates, and participate with their projects at: Makpal Bayetova A' DESIGN AWARD & COMPETITION SRL +39 031 497 2900 email us here Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Associated Press
8 minutes ago
- Associated Press
BROAD ARROW PRESENTS STUNNING AND UN-RACED JAGUAR D-TYPE AT INAUGURAL ZÜRICH AUCTION
Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is proud to offer one of the most pristine examples of the iconic Jaguar D-Type at its inaugural Zürich Auction this November. One of only 71 produced, Chassis XKD 551 is a rare short-nose version of the D-Type and one of the last to have been manufactured. Its desirability is undeniable and further enhanced by the fact that it has never been used in competition, which will undoubtedly generate intense interest among the international collector car community. The Jaguar D-Type will be a highlight of Broad Arrow's Zürich Auction, which will be held in partnership with Auto Zürich at the world-famous Dolder Grand hotel on Saturday 1 November 2025. 'We are extremely honoured to have been granted the opportunity to offer this incredible Jaguar D-Type at our first Zürich Auction,' says Yves Boitel, Car Specialist, EMEA, at Broad Arrow Auctions. 'The fact that this car has never been used competitively and has been meticulously cared for throughout its life, makes it one of the most exceptional D-Types in existence and one that will surely create great excitement among collectors.' Manufactured in 1956, chassis XKD 551 was sold to its first private owner in October 1957, who rather than heading to the nearest racetrack as many D-Types did, carefully converted it to semi-XKSS specification, removing the central bulkhead, adding a passenger door, and fitting a full-width windscreen. In 1963, ownership moved to Hon. James Dawnay, who famously owned and raced the Aston Martin DBR1/1. Motorsport provenance continued when it was sold to Australian Formula 1 driver Paul Hawkins. The 1970s saw another owner remove the XKSS-style modifications to return this highly collectible D-Type to its original configuration, and it eventually landed with its current Swiss owner in 1994. Prior to this, the original XK inline-six engine (no. E 2070-9) had been removed to ensure its preservation, with a correct specification engine fitted in its place. The new owner invested in a significant rebuild of the original engine, which continued to be preserved in storage for the next two decades. Recently, XKD 551 was reunited with its original engine, still fresh from its 2005 rebuild, and this incredible D-Type was treated to a service by the renowned Swiss specialists Graber Sportgarage in preparation for the sale. This extremely rare, un-raced example of the iconic Jaguar D-Type, complete with matching chassis and engine numbers, represents a remarkable opportunity for any discerning collector. It is also accompanied by previous FIA Historical Identity Form (1992), FIA Passport (2009) and FIVA Identity Card (2012), and is eligible for the world's most celebrated historic racing events, including the Goodwood Revival, Silverstone Classic, Mille Miglia Storica, Le Mans Classic, Monaco Historic Grand Prix, and Spa Classic. 'The excitement is building ahead of our inaugural Zürich Auction,' says Paul Gaucher, Head of Consignments for Switzerland at Broad Arrow Auctions. 'The addition of this truly superb example of the iconic Jaguar D-Type will undoubtedly add to that excitement among international car collectors. There is plenty more to come and we can't wait to share additional news on the highly desirable models that will be joining the catalogue soon.' Additional information on The Zürich Auction is available at Collectors interested in consigning to or attending the auction are invited to speak with a Broad Arrow car specialist about this very special addition to the international collector car calendar. Editor's Notes About Broad Arrow Auctions Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is a leading global collector car auction house. Founded in 2021 by highly experienced industry veterans, Broad Arrow offers exceptional quality cars to collectors and enthusiasts around the world. As the fastest growing auction house in its segment, Broad Arrow's flagship annual events include The Monterey Jet Center Auction, in conjunction with Motorlux in California, The Amelia Auction, as the official auction of The Amelia (Concours d'Elegance) in Florida, and The Porsche Auction, in conjunction with Air | Water by Luftgekühlt in California. Broad Arrow expanded its global footprint in 2023, with renowned car specialists joining the team in the UK and Europe. Broad Arrow launched its first auction in Europe in May 2025 as the new official auction house of the Concorso d'Eleganza Villa d'Este in Italy in partnership with BMW AG. Broad Arrow now expands its global auction footprint with three new auctions in 2025 to be held during Zoute Grand Prix, Concours at Wynn Las Vegas, and Auto Zürich. Learn more at and follow us on Instagram, Facebook, LinkedIn, and Twitter. About Hagerty, Inc. (NYSE: HGTY) Hagerty is an automotive enthusiast brand committed to saving driving and to fueling car culture for future generations. The company is a leading provider of specialty vehicle insurance, expert car valuation data and insights, live and digital car auction services, immersive events and automotive entertainment custom made for the 67 million Americans who self-describe as car enthusiasts. Hagerty also operates in Canada and the U.K. and is home to Hagerty Drivers Club, a community of over 875,000 who can't get enough of cars. For more information, please visit or connect with us on Facebook, Instagram, X and LinkedIn. Forward-Looking Statements - This press release contains statements that constitute 'forward-looking statements' within the meaning of the federal securities laws. All statements provided, other than statements of historical fact, are forward-looking statements, including those regarding Hagerty's future operating results and financial position, Hagerty's business strategy and plans, products, services, and technology implementations, market conditions, growth and trends, expansion plans and opportunities, and Hagerty's objectives for future operations. The words 'anticipate,' 'believe,' 'envision,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'predict,' 'project,' 'target,' 'potential,' 'will,' 'would,' 'could,' 'should,' 'continue,' 'ongoing,' 'contemplate,' and similar expressions, and the negative of these expressions, are intended to identify forward-looking statements. Hagerty has based these forward-looking statements largely on current expectations about future events, which may not materialize. Actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. These factors include, among other things, Hagerty's ability to: (i) compete effectively within our industry and attract and retain our insurance policyholders and paid Hagerty Drivers Club ('HDC') subscribers; (ii) maintain key strategic relationships with our insurance distribution and underwriting carrier partners; (iii) prevent, monitor, and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages or other issues with our technology platforms or our use of third-party services; (v) accelerate the adoption of our membership and marketplace products and services, as well as any new insurance programs and products we offer; (vi) manage the cyclical nature of the insurance business, including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims, and (viii) comply with the numerous laws and regulations applicable to our business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet, and accounting matters. The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in Hagerty's other press releases, reports and other filings with the Securities and Exchange Commission. Understanding the information contained in these filings is important in order to fully understand Hagerty's reported financial results and its business outlook for future periods. Attachments Ian Kelleher Broad Arrow Auctions 917-971-4008 [email protected] Meghan McGrail Broad Arrow Auctions 519-365-8750 [email protected]
