Galaxy Digital-linked addresses deposited $125 million into Hyperliquid over the past two days, buying spot and shorting for hedging

According to ChainCatcher, monitoring by Lookonchain shows that a wallet address associated with Galaxy Digital (0xcaC1) deposited 125 million USDC into Hyperliquid over the past two days. They subsequently purchased spot positions in ETH, HYPE, BTC, PUMP, and FARTCOIN, while simultaneously shorting BTC, ETH, DOGE, PUMP, FARTCOIN, and S for hedging purposes.