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Techub News reports that digital asset wealth management platform Abra Financial has reached a definitive merger agreement with special purpose acquisition company New Providence and will go public via a SPAC. The combined company is expected to list on Nasdaq under the ticker symbol "ABRX". The transaction is based on a pre-money equity valuation of $750 million for Abra and is expected to provide up to $300 million in cash (held in trust, net of shareholder redemptions). Existing Abra shareholders will transfer 100% of their equity into the combined company, including well-known institutions such as Adams Street, Blockchain Capital, Pantera Capital, RRE Ventures, and SBI. Abra positions itself to serve the $100 trillion wealth management market, focusing on the digital assets and tokenization sector.
Techub News reports, according to Ai Yi monitoring, the Tether treasury address transferred 28,723 XAUT to the UK asset management company Abraxas Capital Mgmt 4 hours ago, worth approximately $151 million. Heka Funds (Abraxas Capital) is one of Tether's largest and most important institutional clients, having once held 1.5% of the total USDT issuance.
Techub News, according to Onchain Lens monitoring, Abraxas Capital holds short positions in its two wallets, with a current floating profit of approximately $76.83 million. Abraxas Capital has accumulated profits of over $269 million from its short positions.
Techub News, according to GoPlus monitoring, the lending and stablecoin platform Abracadabra is suspected of being attacked again, with losses of approximately $1.77 million. The attacker transferred 51 ETH to Tornado Cash after completing the attack. The attacker's address currently still holds 344 ETH (approximately $1.55 million) which has not been moved. The team subsequently responded in the Discord community, stating that they will use DAO reserve funds to repurchase the affected MIM.
Techub News, according to @officer_cia monitoring, the DeFi protocol Abracadabra was hacked, with losses of approximately $1.7 million. The attacker has transferred all the stolen funds to Tornado Cash.
Techub News reports, according to AMBCrypto, regarding the reports of Abra Financial's SPAC merger with NPAC at a $750 million valuation, currently under review are confirmed and unverified information, including S-4/8-K filings, PIPE financing steps, and shareholder voting in accordance with SEC procedures.
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