Is there risk in USDC?

I've been hearing a lot about USDC, the stablecoin pegged to the US dollar. It seems like a convenient way to move funds around in the crypto world, but I can't help but wonder: is there any risk involved in using USDC? After all, even traditional currencies have their fluctuations and challenges. Could you please elaborate on the potential risks associated with USDC? I'd like to have a better understanding before I decide to use it in my financial transactions.