Minnesota creates an open roster spot that could be useful in bigger trades before the Feb. 6 deadline.
The Hawks have been scouring the marketplace for a backup point guard to ease the burden of Trae Young. The Hawks have an offensive rating of 108.2 with Young on the floor, and 90.7 off it.
Teague and Crabbe are on expiring contracts. Teague, 31, played the first seven years of his career with Atlanta.
"Different players play different ways, and I'll give Jeff a lot of credit for trying and doing whatever was asked of him to try to be a good fit in our system,'' new Wolves president of basketball operations Gersson Rosas said on a conference call with reporters. "I think, big picture, it's just a different game. The way he plays, this system is maybe not as complementary to him in that we need our lead guard to be a guy who pushes tempo and is more of a creator than a scorer.''
Graham, 26, has averaged five points and three rebounds.