Stablecoins are not fraud, we only have to ensure that the ones we are using or in support are the within the most recognized and supported ones, USDT is the best and most reliable stablecoin anyone could find being applicable for use in most instance, we have to know the true value and relevance in the use of this same tether and how its a global stablecoin where all currency pairs exist with.
People have different views on stablecoins, some believe in them and others see them as nothing more than scams. I respect the reserve proof that Tether and Circle provide to the community, and these companies are also buying a lot of government bonds, investing in BTC, and providing other services. In the past, I was also worried that Tether did not have enough assets to back the value of USDT, but for now I temporarily trust the value of stablecoins and think that 1 USDT is really backed by $1 worth of assets.
Concerns about stablecoins have existed since their inception, I don't think I want to spend a lot of time worrying instead of focusing on following the market and looking for opportunities to make a profit. Those who don't believe in stablecoins can sell their crypto for cash and hold on while waiting for new opportunities in the market.