Is the government legit? Is SBF legit? Everything is crooked in this world...
I don't know about Binance but Tether is too big to fail. If Tether falls apart then the whole industry will. USDC and other stablecoins can't carry the burden.
Tether tentacles go beyond the crypto world. Do some research and you will see why this thing can't fail... for now.
Worth noting though is the fact that after every Tether FUD there's always a big bounce for Bitcoin.
Even if supposedly USDT falls where do you think all that money will go, a highly inflationary dollar.