So, in the end, if Tether opens up its reserves, usdt will become the best of the best again?

USDC (USD Coin) and USDT (Tether) are stablecoins pegged to the US dollar at a 1:1 ratio, but they differ in several parameters:
1. Issuer and supervision:
USDC is issued jointly by Coinbase and Circle, is supervised by US financial regulators, and has high transparency.
USDT is issued by Tether Limited and has historically had many transparency issues. While it claims that each USDT is backed by US dollar reserves, it is not independently audited and has low transparency.