Is Alameda Research Trying to Short USDT? Here’s The Truth

Is Alameda Research Trying to Short USDT? Here's The Truth

Altcoins

The crypto markets have become more volatile ever since the problems with the FTX exchange and Alameda came to light. Extreme panic was felt in the market as Bitcoin and all the other major cryptocurrencies hit fresh yearly lows. However, heads turned when the leading stablecoin Tether(USDT) depegged, with a strong bearish wave dominating the market.

The rumor mill has it that SBF’s Alameda Research group is trying to short the USDT token in order to recoup a portion of their debts.

The stablecoin king, USDT, did get de-railed from its $1 peg by 3% today. However, it may repeg to $1 in the interim, but the broader market environment will still remain extremely bearish.

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