$4 billion US hedge fund attempts to short Tether’s stablecoin

    Fir Tree Capital Management, a $4 billion New York-based hedge fund, is shorting Tether as the largest stablecoin in crypto faces down scrutiny from regulators and fears over ties to the Chinese debt market. According to Bloomberg, Fir Tree has constructed a way to short Tether in an “asymmetric trade.” That means the risk is…