Heat a Dutch oven over low/medium heat. Add 1 tablespoon of butter and the minced yellow onion. Cook for 4 to 5 minutes, until the onions are soft and golden.
To make the roux, add the remaining 2 tablespoons of butter and flour to the cooked onions. Whisk often for 1 to 2 minutes. The roux should be a blond color.
Remove from heat, and slowly whisk in the chicken broth and heavy cream. Continue whisking until all of the lumps are gone. Approximately 5 minutes.
Stir in the hot sauce, kosher salt, and cracked pepper.
Next, fold in 5 cups of the shredded cheddar cheese. And return to heat to cook on low for 10 minutes.
While the soup is simmering, prepare the croutons.
Place a large skillet over medium/high heat. Add the 2 tablespoons of butter to the pan. Allow the butter to melt.
When the butter is completely melted, stir in the garlic powder and crushed red pepper.
Next, toss the chopped bread pieces into the butter mixture. Cook for 3 to 4 minutes, or until all of the pieces are nicely toasted.
Serve the soup topped with ÂĽ cup of shredded cheddar and the quick croutons.