if a money market fund, especially one backed by the federal reserve like a us treasury, collapses, you have MUCH bigger problems my friend. It basically falls into the category of “doesn’t keep me up at night”.
I recommend you do some reading to learn more about it.
To be overly pedantic, there is an added risk of fraud from the fund manager. If a savings bank embezzles your money, the FDIC will make you whole, and do so rather quickly. If your MM manager does so, you have to get in line and hold out your hat.
The risk of e.g. Vanguard doing this is also probably negligible.
I recommend you do some reading to learn more about it.