I think you are misunderstanding the point of tether. It’s not about paying out dollars, many companies have been paying out dollars from crypto long before tet

I think you are misunderstanding the point of tether. It’s not about paying out dollars, many companies have been paying out dollars from crypto long before tether existed. The point of tether and all stablecoins is to provide liquidity to the crypto market. That is, to easily ans nimbly zero out your crypto exposure. Before stablecoins if I thought btc was going to drop a lot in the next hour, the only thing I could do would be to buy some other crypto asset and hope to god they weren’t correlated with btc. But since all crypto ia highly correlated with each other this didn’t work very well. Tether was introduced as an uncorrelated store of value so I could quickly zero my exposure. Unfortunately, tether seems to have more exposure than it was supposed to have.