Short sellers have ramped up their bets against tether, the world’s largest stablecoin, amid a widespread market sell-off that casts doubt on the financial health of some crypto companies. death.
Over the past month, many traditional hedge funds have executed short Tether trades through Genesis Global Trading Inc., one of the largest crypto brokerages for professional investors. Leon Marshall, Genesis’ head of institutional sales, said these transactions were worth “hundreds of millions” of dollars. He declined to be more specific.
https://www.wsj.com/articles/more-hedge-funds-are-betting-against-tether-as-crypto-melts-down-11656322200?mod=rss_markets_main More hedge funds are betting on Tether as crypto melts