Why are Hedge funds reportedly shorting Tether (USDT)?

Hedge funds are reportedly shorting Tether (USDT), the biggest stablecoin in the world. Shorting a cryptocurrency means selling a digital asset hoping its value will decline, and you can later buy it back at a lower price. Traders then use the differential in the market price to earn money. Allegations surrounding the shorting of Tether have surfaced when the virtual currency market continues to experience extreme volatility following the Luna-Terra debacle. Hedge funds are financial holding firms where investors deposit their money in exchange for the promise of active returns from either shorting or holding long positions. So with all that said, let’s look into the validity of the claims about shorting in this video by Kalkine Media.