As another commenter noted Facebook does not control it. But you're right that the token is backed by something, mainly one to one reserves of currencies and g

As another commenter noted Facebook does not control it. But you're right that the token is backed by something, mainly one to one reserves of currencies and government bonds. So you're okay with bitcoin, that has a market cap of over $100bn that's backed by nothing, but someone creates a cryptocurrency that's backed by one to one reserves of the safest investments in the world and that's somehow extremely questionable.