Flood explains why being short doesn't always mean you're bearish “I'm obviously up quite a bit on my HYPE. If I sell it, I have to pay quite a bit of tax. So I can hedge it with a derivative, protect my delta and then I get paid on both sides” “You get paid the HYPE staking yield, which is not taxable in the US and then you also get paid the funding payments because HYPE basis is typically paying shorts” “I may be short HYPE but that doesn't mean I'm bearish HYPE. It just might be an okay use of my cash” “It's not like I made a million dollars shorting. It's just me protecting the US dollar value of my portfolio and being paid to do so”