That makes no sense; if institutional money were to come into cryptocurrency (that is, fiat to crypto) -- which is a taxable event -- why would they be going in

That makes no sense; if institutional money were to come into cryptocurrency (that is, fiat to crypto) -- which is a taxable event -- why would they be going into USDT when the main goal of USDT is to be stable? Essentially, that means people will be losing money.