Hedge funds' Tether attention trigger transparency calls amid crypto chaos

Mark Battersby
clock • 2 min read

Regulators urgently need to step up scrutiny on Tether amid fresh turbulence hitting the crypto industry, argues deVere Group CEO Nigel Green following reports that some hedge fund firms are shorting the world's third-most traded token. Tether (USDT) is a stablecoin, meaning it is pegged to a currency, in this case, the US dollar. Stablecoins' name highlights the idea that the peg supposedly makes them less volatile than cryptocurrencies such as Bitcoin or Ether, which can vary widely in value. When a stablecoin is established, there is a reserve for the assets, which are held as coll...

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