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Cryptocurrency News

Tether CTO refutes stablecoin FUD as short-sellers circle

06/28/2022

Less than a minute

2022.06.28 12:57

Tether CTO refutes stablecoin FUD as short-sellers circle – Budrigannews.com

Tether chief technology officer Paolo Ardoino has confirmed that the stablecoin has been the subject of a “coordinated attack” by hedge funds looking to short sell the dollar-pegged crypto asset.

Speaking to his 151,600 Twitter (NYSE:TWTR) followers on Monday, June 27, the Tether executive was responding to reports that hedge funds have been borrowing millions in loans to short USDT since the collapse of Terra (LUNA) in May.

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