I don’t think anybody cares at this point. Tether’s marketcap used to be below $10 billion or something. In a week it doubled. I freaked out. I thought that was the end of crypto because somebody was printing usdt out of thin air. I was wrong. Nothing happened. Stable token marketcap is now what? Multiple hundred billion usd and growing. It will be over a trillion before you know it and btc will be at $1 million.
Tether has been faking its audits… You call that news? Sky is blue and water is wet.
The market is heavily manipulated these days, so big exchanges will keep USDT afloat no matter what. It's all about money. As long as money is flowing, nothing else matters. Most people just buy stablecoins, leave them at the hands of a custodian (centralized exchange), and forget about the rest. You can bet everybody will start whining once Tether implodes. It'll be the same as Terra/LUNA's UST stablecoin collapse. Without any investor protections, or guarantees of any kind, you'd be at risk of losing it all in an instant. It's not like banks which are insured by the government (like it's the case in the US).
Hopefully, regulators scrutinize Tether for the benefit of all. At least, we have plenty of options to choose from. Just diversify your investment, and there should be nothing to worry about.