Stablecoins, to put it simply, are a combination of "confidence + bank run psychology," usually used as cash, but when something happens, everyone runs faster than anyone else.

The transparency of reserves shouldn't be exaggerated either, the most feared are those "having audits but not showing you the details," like holding meetings where only PPTs are shared but the original spreadsheets are not shown...
I say I understand, but my hands are already reducing my positions.
Recently, there's been talk about easing expectations, the dollar index, and risk assets bouncing along, which looks quite lively, but I care more about: when the wind shifts, who will be the first to be bankrupted?
Anyway, I only dare to hold those with clearly explained redemption paths now, so I don't wake up in the middle of the night wondering "who is actually backing the floor."