WSJ: hedge funds have increased short positions on USDT

WSJ: hedge funds have increased short positions on USDT

WSJ: hedge -funds ramp up USDT shorting

Among crypto-focused hedge funds, USDT stablecoin shorting is on the rise amid negative market sentiment and the collapse of the Terra ecosystem. This was reported by The Wall Street Journal.

According to the publication, a month earlier, traditional hedge funds traded short through the Genesis Global Capital service. The company's head of institutional sales, Leon Marshall, valued these deals at “hundreds of millions” of dollars.

He added that the company did not take risks, on which “many lenders and hedge funds” have decided.

On June 18, the website of the stablecoin issuer was subjected to a large-scale DDoS attack. Then Ardoino ruled out the impact of the incident on the possibility of redeeming positions in USDT.

Recall that Tether refused to fire employees, despite the unfavorable situation in the cryptocurrency market.

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