If you didn’t cash out already and are taking your coins offline etc, you’re the bag holder.
https://crypto-anonymous-2021.medium.com/the-bit-short-insid...
https://bitfinexed.medium.com/tether-is-setting-a-new-standa...
USDC (the second largest stablecoin), isn't appreciably better.
Binance has its own stablecoin: BUSD
USDC is associated with Coinbase, the exchange that recently went public, so I'd assume it's far more trustworthy than Tether.
https://cointelegraph.com/news/a-by-the-minute-look-at-tethe...
As a cryptocurrency exchange, Binance must hold Tether to operate.
As the most popular cryptocurrency exchange on the planet, they're likely to be on the larger end of Tether (and various other cryptocurrencies) holdings.
I'm not defending Binance here, I think there's fair potential that they're doing shady stuff, but they're not responsible, in any way, for the minting of billions of dollars of Tether, or involved in any of the dodgy accounting around Tether's backing.
Same goes for Huobi, who are second on that list. They're an exchange. Holding Tether is an essential part of being in that business.
If you traded your BTC for some non USD currency the same point remains.
BTC is functionally a security. Under any duress of the USD I'd expect it to perform no different than AMZN stock.
Yeah, sure, but everyone except cranks who works in fiat openly acknowledges that. Fiat (well, major fiat currencies like the dollar) are good for low-volatility liquidity. For long-term accumulation of value, you invest in productive assets, which are both riskier over the long term and higher volatility over the short term, but have higher average long-term yields. And, ideally, you diversify investments in ways that maximize independence of at least long-term variation, to mitigate risk and get closer to consistent long-term average results.
Crypto“currency” that isn’t fiat-pegged tends to be worse than major fiat at the things people who prefer fiat think fiat is for, while (in the best cases) being a very high-volatility speculative asset with very good average performance over its history to date (which isn’t very long term). It’s thus not a great replacement for fiat, but potentially a bice addition to the stable of available investments.
I think you should not ignore the forest for the trees here. A small purchase today held for another 5-10y could prove quite lucrative for you.