Waves Founder Blames Short Sellers for Its Woes. Here’s Why That’s a Red Flag

In response to Jeff Dorman at crypto asset administration agency Arca, the chaos might have already elevated quick stress fairly than easing it. Establishments and hedge funds tired of holding WAVES on its deserves, he says, “are all in all probability scrambling proper now to discover a WAVES holder to get a borrow from [to enable shorting], however they’re seemingly unsuccessful in doing so. The destructive funding fee [for WAVES] on FTX, for instance, is indicative of how little borrow there may be, as those that need to quick have resorted to promoting perpetual futures.”