This just in: cashing out is out, direct investment is in.

Bullish's $1.15B in IPO Proceeds Entirely in Stablecoins in Public Market First - https://news.ycombinator.com/item?id=44957496

yep. one of the understated and more abstract realities of crypto money laundering, as well as licit crypto profits and revenues, is that many crypto natives don’t want their nation’s currency or any fiat.

its been like this for over a decade.

you can get out of volatile coins and into stablecoin onchain.

you can buy goods, services, and investments whether with the volatile coins or with stablecoins.

stablecoins also have a redemption mechanism, so when you move them to an exchange, the conversion isn’t “selling for usd” (which has a fee) its just redeeming them for free. Coinbase can take USDC straight to your bank account for example, removing one step.

when I was running a small hedge fund half a decade ago, our third party fund administrator could take investor funds in crypto for us that would be accounted for on our books in usd for further investment.

a lot of crypto ETFs are taking funds in crypto right now too, there is a tax advantage that Bloomberg wrote about a month or two ago