If USDT is going to be a problem it should have happened before Luna and FTX, later Tether was audited and they drop proof of reserve too, that's what I read online but I will be surprised if something happened because right from day one all eye is on USDT and Tether.
This could trigger another bear trend and maybe this will be the worst one.
Stablecoins are on a big threat right now and if USDT fall into a big drop as well, then it will be hard for the market to rise again and for sure, the trust for stablecoins will be at risk. USDT should address every issues and assure the public about the safety of the funds, hoping that this is just a rumor.
Actually, trust in stablecoins has already been disturbed after several crashes and scam issues. Investors are now about to think if they will invest them or not knowing the high risk and possibly losing their money. As this issue has been spreading and perhaps, it was alarming already - people will not put their money into them (stablecoins) and tend to stay away from them.
I have been using Tether before for my trade but now, after all the issues have been raised, I already stop and not use it anymore.