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Benzinga
Benzinga
Business
Shiv Juneja

Traders, Major Hedge Funds Short USDT As Uncertainty Around Stablecoins Rise

Hedge Funds TER Cryptocurrency

Numerous cryptocurrency trading hedge funds have opened major short positions on Tether (CRYPTO: USDT).

What Happened: According to CoinDesk, digital currency broker Genesis stated that following Terra’s (CRYPTO: LUNA) downfall due to UST’s (CRYPTO: UST) de-peg, numerous short positions for Tether have opened. There has been extreme fear, uncertainty, and doubt injected into the market on the reliability of Tether.

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