Just a novice question here: what happens if you hold x amount of a stable coin in one of the many lending crypto platforms available (crypto.com, youhodler, nexo, etc) and that coin fails and goes Kaput? Do you loose it all? or are your assets moved to another token or FIAT?
That is why there is so much concern and speculation around the centralized stable coins because they can shut the market anytime they wish and because they have an unlimited supply, it can be easily achieved. I don't think this has happened with any coin but there is a possibility with some coin in the future as more and more stable coins are now making their way which is where it gets dangerous. Like when the ICO market was at its peak, a lot of scam ICO were launched which ultimately killed the whole market.
Solution:
Just buy Bitcoin and HODL. You get way too many gains than those risky defi platforms
Maybe another solution can be to keep USD instead of stable coins in the balance and withdraw to your bank, it might come at a small fees for withdrawal and then again for depositing but it is much safer as compared to buying a stable coin and specially if you are planning to hold for a longer period. If you are planning to hold stable coins for a few weeks or months then there ain't that much risk.