FG Nexus' ETH Dump Causes Book Loss of Over $85 Million

On June 4, Hyperinsight monitoring reported that Abraxas Capital—the primary short seller on the Hyperliquid platform—shorted HYPE through two addresses, locking in a profit of $9.2 million solely from funding rate settlements. Across all its short positions (including BTC, ETH, and other cryptocurrencies), the firm has accumulated a total profit of $33.83 million via funding rate settlements, with its current total short position size standing at roughly $141 million. It is noted that Abraxas Capital began building its large short positions back in May last year, and was once the largest whale in contract funding activity on Hyperliquid. Its short positions peaked at $920 million, generating a total profit of $301 million over the entire period. Related addresses: 0x5b5d51203a0f9079f8aeb098a6523a13F298C060 0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36

June 4 — Sources with direct knowledge of the matter tell us that Bank of Japan officials plan to debate a 25 basis point increase to the central bank’s benchmark interest rate this month, while also weighing the possibility of further rate hikes later this year. The sources add that at the policy meeting wrapping up on June 16, the Bank of Japan (BOJ) is highly likely to deliberate lifting its policy rate to 1%. BOJ officials hold that the current real interest rate remains too low, and inflation risks continue to climb, leaving room for additional rate increases. Amid high uncertainty over the Middle East situation, central bank policymakers will keep analyzing all data and information right up until the final moments before locking in a decision. The sources note there may be some dissent over the rate hike during the meeting, but such opposition will not be enough to derail the plan to raise rates. Another key agenda for the meeting is the BOJ’s latest plan to scale back its

June 4 — According to BSCN, longtime Bitcoin critic Peter Schiff has stated that Tether’s market cap won’t just surpass Ethereum in the future, but will eventually overtake Bitcoin too. The only uncertainty, he says, isn’t the final outcome — it’s how long the process will take to complete. Schiff explained that as stablecoins continue expanding their use in payments, transaction settlements, and digital dollar circulation, demand for USDT will grow faster than it will for volatile assets like Bitcoin. He insists Bitcoin has no intrinsic value, while stablecoins have more concrete, real-world financial use cases. Still, Schiff noted that amid the recent market downturn, Bitcoin has found short-term support around $61,000. BTC has rebounded over $2,000 from its recent low, signaling buying interest at that price range.

June 4th: Per Hyperinsight’s monitoring, “Big Brother Whale” Huang Licheng has continuously added to his 25x Ethereum (ETH) long position over the past hour, doubling the size of his position to 4,000 ETH, which is worth roughly $7.25 million with an average entry price of $1,812.

On June 4th, according to Hyperingisht monitoring, crypto whale Huang Licheng—nicknamed "Big Brother Whale"—began scaling up his long position 1 hour ago. His current position size stands at 1,775 ETH, worth approximately $3.2 million, and he is facing an unrealized loss of $6,838, with an average entry price of $1,811 per ETH.

June 4 — Official sources have announced that Aethir has officially launched Aethir Mesh: an in-house open-source large language model API platform built on Aethir’s decentralized GPU infrastructure. The platform now offers a unified API endpoint directly connecting to top open-source models including DeepSeek V4, Kimi K2.6, GLM-5.1, MiniMax-M2.5, and Qwen3.6-27B. Unlike aggregation routing solutions like OpenRouter, Aethir Mesh runs inference services directly on Aethir’s own computing power, meaning there are no resale markups or third-party routing layers. Aethir Claw users can embed their Mesh API Key directly into their intelligent agent configurations, enabling a full-stack closed loop from VPS hosting to model inference — and all inference data never leaves the Aethir ecosystem. The platform is now live at: https://agent.aethir.com/twitterCNmesh