In this recent market move, the issue of stablecoins de-pegging has once again become a hot topic. To be honest, every time I see projects with opaque reserves, I get a bit restless. There are things that an audit report can clarify, yet they still come up with a few vague addresses to fob people off. Once the fear of a bank run kicks in, market sentiment gets knocked over immediately. Anyway, I’m not going to bet on those promises of “we’re very safe, but the data isn’t convenient to disclose.” Recently, hardware wallets have been out of stock, and phishing links are everywhere—security awareness really needs to be cranked up. Don’t wait for something to happen before you remember to check the on-chain data. Plainly put, transparency and trust are the fallback.