Recently, I've been thinking about the de-pegging of stablecoins again. To put it simply, it's often not the technology that fails first, but people's panic. Usually, everyone thinks "1 is 1," but once market sentiment tightens, even if reserves are fine, a run can still crash the price into a pit. Reserve transparency is like a ledger; watching it every day may not guarantee peace of mind, but when something really happens, at least there's less reliance on guesswork. Recently, there's been talk about interest rate cut expectations, the US dollar index, and risk assets moving together up and down. Emotions spread too quickly. I personally prefer to diversify now; don't treat "stability" as absolute—anyway, being able to sleep well is the most important.