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I have swapped my holdings of $USDT for $USDC .
The risk of Tether's recent investment in gold lies in a misalignment of roles.
If it were acting as an investment company, this would be an excellent macro hedging strategy, capitalizing on the rise in gold prices.
But as a stablecoin issuer, placing a large portion of reserves into volatile assets like (gold) and active trading strategies undermines its purity and stability as "digital cash."
As long as Tether's gold holdings are primarily purchased using its profits ((excess reserves)), and core user funds are still backed by U.S. Treasuries, the risk is still manageable.
Once it is found to be using user principal for large-scale speculation in gold, that would be an extremely dangerous signal.
In summary, after some research, I decided to swap my USDT holdings for USDC. This is just for your reference.