Are Hedge Funds Seeking to Sell the USDT?

Arrow

Paolo Ardoino, the CTO at Tether, spoke out in response to what he called "open and coordinated" attacks against USDT by some hedge funds.

He explained that this is being done in an effort to generate further FUD in the wake of TERRA/failure.

Paolo Ardoino discusses the mechanisms underlying the "open attacks" on USDT, which he said are being carried out by hedge funds who have worked together to impair USDT's liquidity by shorting the stock extensively and then repurchasing it at a reduced price.

Ardoino continued by announcing that Tether's exposure to commercial paper has decreased from $45 billion to $8.4 billion.