Is it the concept or the company you distrust?

Sounds like mostly the latter(s).

My understanding was stable-coins or mostly an intermediary between traditional finance and crypto-exchanges and services.

Not really necessary for the self-custodying BTC nerd (which is preferable) but maybe for the Wall St. types or DeFi loans/interest. 🤔🤷‍♂️

Not much point otherwise, since they’re literally pegged to USD. Altho Tether does have a gold-pegged service… I guess that’s probably better, maybe more practical for some until than can hold gold on their own.