It s because banks were horribly slow to work with exchanges. In my country, China, many exchanges closed down due to account freezes by their banks (granted th

It s because banks were horribly slow to work with exchanges. In my country, China, many exchanges closed down due to account freezes by their banks (granted they might never have followed proper regulations in the first place). So, when your bank freezes you out a few times, you build an exchange entirely on Tether and tell people it s like money. And then all exchanges do it and when you look back at it, Tether is the only way to redeem BTC, which you wanted an exposure on because your grandma is a paper millionaire. So each time there s a bubble you rush to an exchange, give your RMB for BTC, the bubble burst you rush out and what s the only way? Calling Bank of China to beg them to reinstate yout exchange? Or take the USDT and go elsewhere? It s better these days but a few years ago everyone I knew was locked in BTC or Tether. And the more they re locked in, the more delusional these people are abt their crypto things, pushing the bull up... I tell you in 10 years everyone will see it like the scam it is, but boy is it hard to yell at the wind meanwhile :D DONT BUY VIRTUAL MONEY IT S VIRTUAL BUT NOT MONEY