The exchanges that don't support cashing out direct to your USD bank are unlicensed and unregulated and they're dealing in Tether to skirt the KYC and AML requirements that a real financial business has to have. Those exchanges deal in scam coins that are pure pump and dump. Those exchanges don't have to keep client funds in reserve.
This is not the point. Even the most legal/regulated have to ACH/wire cash.
If you’re a trader and want to raise your cash portion of a portfolio it’s much faster/easier/cheaper to hold stablecoins. The cost is that it’s riskier.
I don't know what you mean, for instance because Gemini follows all the regulations, I can hold USD cash in my account and it's even FDIC insured. Wiring back to a checking account is an option, but I can keep liquidity at the ready without dealing in stablecoins.
