As someone with ambivalent interest in crypto, it seems like a Tether meltdown might be healthy for the space.

It would wash out a lot of the accumulated speculative value and hopefully lead to a much more confident regulatory framework for the interface between blockchain money and real world money. It would also long-term strengthen fully decentralized aspects of the crypto ecosystem while flushing out those that don't really function independently of traditional finance but instead accumulate speculative valuation based on an unsafe interface with fiat and the financial sector.

Winners all around (except for crypto speculators)?