This was more accurate in the past, before the advent of multiple new so-called “stable coins” that could effectively take the place of tether. Remains to be seen just what impact these new entrants will have but I think it is safe to say that the bloodshed could be somewhat softened by them… as well as a gradual shift to holding BTC instead of tether (and a temporary price rise of BTC). Also a gradual shift to Coinbase for legit crypto users/traders and just using the USD wallet offered there.