When Hindenburg publishes equity research, the disclosure is "you should assume that as of the publication date of any short-biased report or letter, Hindenburg Research...has a short position in all stocks (and/or options of the stock) covered herein, and therefore stands to realize significant gains in the event that the price of any stock covered herein declines."
Precisely. It's too risky to actually short the crypto complex because if the Tether fraud is true, then they can pump it to $100k or $1m or whatever they want.
But if they contribute to the unwind of a fraud of this scale, they will go down as heroes.
If people aren't buying as much Bitcoin at $100k+ (I assume you are referring to Bitcoin), then what will cause it to go to $1m? I don't think they can have a guaranteed pump like you are saying.
If a fraudulent Fed is fabricating Tethers, and some people are buying it, the price is a ruinous fiction to a short. For shorts, delusions matter in a way that they don’t for ride-it-out longs.
When Hindenburg publishes equity research, the disclosure is "you should assume that as of the publication date of any short-biased report or letter, Hindenburg Research...has a short position in all stocks (and/or options of the stock) covered herein, and therefore stands to realize significant gains in the event that the price of any stock covered herein declines."
[1] https://hindenburgresearch.com/draftkings/