Any major stablecoin is good for buying cryptos within the crypto ecosystem which have no fiat markets. Tether happens to be the one with the most liquidity and

Any major stablecoin is good for buying cryptos within the crypto ecosystem which have no fiat markets. Tether happens to be the one with the most liquidity and broad acceptance. As others mentioned, they are a stable value interface into the crypto native ecosystem. Nobody in our conversation is advocating for fiat in cryptocurrency representation, I’m telling you the answer, our feelings about Tether doesnt change the accuracy of the answer. Liquidity providers are the ones okay holding large amounts of tether. Just look at the liquidity pools, they all earn commissions from other people routing trades through those pools onchain, and many of them yield farm too. The risk is tolerable for them, Tether has had much greater crisis of confidence in the past and didn't implode, trading at worse 15% away from $1 for prolongued periods of time so if those werent going to make holders lose all their money than (compared to the 99% drops in most crypto assets) then people have more confidence amongst the universe of pricing confidence. That's where we are. Like I said, and what you walked directly into anyway: Bitfinex and Tether’s poor management and governance and opaqueness are issues, randomly picking any Tether headline as validation of those issues are a distraction, as it clouds everyone’s ability to focus on real issues with Tether.