Not long ago, I made a move, which was to convert all 90,000 USDT in the account into USDC...

The reasons are as follows:

On November 26, S&P Global Ratings downgraded the stability assessment of USDT to level 5 (Weak), which is the lowest level in its stablecoin rating system.

The proportion of high-risk assets in USDT reserves increased from 17% to 24%, with Bitcoin holdings accounting for 5.6% of its circulation, exceeding the 3.9% over-collateralization space, and a decline in a single asset could lead to insufficient collateral.

Tether has not disclosed key information such as the custody institutions and counterparties' credit situations, and the detailed explanation of reserve assets is insufficient, with the data not audited.

In addition, governance issues such as Tether's cross-border business expansion, assets not being isolated from other businesses, and the asset isolation risks under El Salvador's lenient regulations were also considered by S&P in the downgrade.

Most importantly, Tether invests our funds in businesses like gold; if it profits, it's Tether's gain, but if it loses, the risk falls on everyone.

A gentleman does not stand beneath a dangerous wall; holding USDC is the same, so why still hold USDT, which has a higher risk of wrongdoing? Making money is not easy, and we must protect our limited principal. Once there is any sign of trouble, retail investors will be the ones most severely affected. USDT has had many problems exposed; what if one day it really has an issue? The wolf is coming, the wolf is coming; what if the wolf really comes? You can't even run fast enough...