These days, I've been reviewing the reserve disclosures of several stablecoins again. Honestly, what I fear most isn't a "technical bug," but everyone panicking together for a moment. Usually, it all looks pretty stable, but when the warning signs appear, and the on-chain redemption queue lengthens, de-pegging feels like squeezing into a subway... If you don't run, you'll be pushed to run. As for transparency, well, no one gives it a thumbs-up during normal times; only when something goes wrong do people start asking, "Where's the money actually at?"

Right now, I try to diversify my holdings as much as possible, keeping an eye on those that can be redeemed at any time and the on-chain liquidity, to avoid greed for that tiny interest.

And about the community arguing over privacy coins/mixing compliance, it's also quite divided: one side says privacy is a right, while the other fears being implicated if they get involved. Anyway, my own boundary is that I only take paths I can clearly explain; otherwise, if stablecoins get tense or exchanges start acting up, and withdrawals get blocked, I’d be in full panic mode.
For now, that's it. Continuing to keep notes in my little notebook.