>>why would people want to cash out into dollars en masse and pay tax on that? Because they see it as a likely loss, and would rather get some return than noth

>>why would people want to cash out into dollars en masse and pay tax on that? Because they see it as a likely loss, and would rather get some return than nothing. A taxable gain is always better than a loss. Even if the gains were in other crypto and are now being cashed out via Tether to $USD, it's better to realize those gains in $USD and pay 0%, 15%, or 20% capital gains taxes (depending on your income bracket), rather than lose it all due to Tether becoming worthless. Manageable but certain cost vs unpredictable likely total loss.