I checked whether USD1 faces a significant risk of depegging—why do the top ten addresses control 91% of the total supply? If large holders sell off, it could easily crash liquidity and trigger panic selling; this scenario seems quite plausible. The main risks are as follows: - Political associations (you know what I mean) WLFI’s connection to political figures increases the risk of regulatory scrutiny and reputational damage that could undermine confidence. - Reserve transparency reports Reports are only published monthly (not real-time audits), which makes oversight difficult—I assumed audits were accessible in real time. - Redemption accessibility USD1 is a fiat-collateralized stablecoin with reserves held by BitGo, offering 1:1 redemption—but ordinary users cannot redeem directly. Redemption depends entirely on exchanges and custodians; if access is restricted, the token may trade at a discount.