Abraxas Capital moves $378M BTC to Kraken and $28M gold tokens across four exchanges

Abraxas Capital deposited 4,835 BTC — worth approximately $378 million — to Kraken within the past hour, in one of the larger single-exchange Bitcoin deposits seen recently from an institutional player.

The firm simultaneously distributed 6,000 XAUT tokens, representing around $28 million in tokenised gold, across Binance, Bybit, OKX, and Bitfinex.

Large exchange deposits from known capital managers are typically watched as potential sell signals, though they can also reflect collateral or trading operations. The spread across multiple venues for the gold-backed token suggests a deliberate, multi-platform strategy rather than a single liquidation event.

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Lookonchain ✓ @lookonchain · 17d ago

Abraxas Capital deposited 4,835 $BTC($378M) to #Kraken and 6,000 $XAUT($28M) to #Binance, #Bybit, #OKX, and #Bitfinex over the past hour. https://t.co/vZTxLPd2zq https://t.co/rpZBxeHVM8

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