Tether CTO responds to reports of hedge funds shorting USDT

Tether CTO Paolo Ardoino has responded to reports of hedge funds shorting its USDT stablecoin.

A “short” is a bet against the value of an asset. In contrast, a “long” position is a bet that an asset will appreciate in value.

On Monday, the Wall Street Journal reported that various traditional hedge funds had open USDT short positions worth hundreds of millions of dollars.

“There has been a real spike in the interest from traditional hedge funds who...

Bank of America expects US CBDC launch between 2025 and 2030

US Dollar

The Bank of America (BoA), the US’ second largest bank after JPMorgan Chase, believes a central bank digital currency (CBDC) for the US dollar is “inevitable”, Bloomberg reports.

According to BoA digital asset strategists Alkesh Shah and Andrew Moss, CBDCs represent the next step in the advancement of electronic currencies.

The bank expects a digital US dollar to be rolled out between 2025 and 2030.

Plans for an American CBDC have been bubbling to the...