It is indeed a taxable event. People who exchange crypto for “stable”coins are generally doing so to stay out of the KYC banking realm so they can lie about their transactions to their country’s tax authorities.
... for now
We've seen lots of the crypto exchanges fail to make exchanges for hours to days when things get hot
Official stock exchanges have a standard practice of halting trading in stocks when unusual events happen. Sometimes this cools the market and things get back to normal, sometimes the thing has gone to zero when
If Tether crashes to $0.01, I'd be a bit surprised if it didn't stop being convertible for a significant time.
when i'm not lp'ing, i see no reason to switch to usd so long as us-based attestations continue to be solid. the opportunity cost of being in usd on coinbase is missing lucrative nft deals.