Yeah, I would really hope they weren't investing in other cryptos. I don't think it's a bad move for a company in general, but they are essentially used as a shelter from crypto. If crypto is going down, they're getting volume, if they're also losing money from crypto going down, then that volume is based on backing that is rapidly disappearing.

The issue is that they've filled a need in the market for a dollar peg, and as such, they should be responsible to actually peg to the dollar by holding dollars. Put the money in bonds or something. They could have been a solid piece of the crypto market forever, but short sighted greed might make them nothing more than an unpleasant memory.