I only discovered algorithmic stablecoins recently and I'm very curious about DAI: somehow they're there since a long time and they've been fine during turbulen

I only discovered algorithmic stablecoins recently and I'm very curious about DAI: somehow they're there since a long time and they've been fine during turbulent ETH price action. But DAI are basically very tied to USDC and it's not clear at all should Coinbase go bankrupt if they'd be using the assets backing the USDC to pay their debt or not. In a recent Coinbase report they said they may use customers' funds to pay back their debt should they go bankrupt but they said nothing about USDC. I know USDC aren't directly emitted by Coinbase but by a joint-venture Coinbase is "only" part of but still sounds scary to me. So it's not clear at all to me that DAI would still work in the face of Coinbase going belly up (COIN is at $48 before the market opens, that's -86% compared to its all time high so things aren't exactly smooth sailing and all the crypto exchanges are feeling the heat right now). So, yup, DAI is more than fully collateralized, but it's relying on Coinbase / Circle not doing anything shady with the assets backing the USDC stablecoin.