That’s very interesting. I have some of my cash in T-bills, but the bulk of it is in the Vanguard federal money market fund.
Now I’m wondering if that’s safe enough?

I'd rephrase the question a bit. Is the extra yield you're getting commensurate with the extra systemic risk you're taking?
If they are holding T-bills then truthfully you're *probably* OK, as your risk is limited to things like major financial meltdowns causing a freeze to one of the intermediaries, or fraud at the fund manager. Or hidden risks in the fund because they're getting fancy with derivatives to boost yield a few bps. Still, if you have the ability to buy T-bills, and you want to be as sure as a financial instrument can be, then do that.

Berkshire head office doesn't buy money market funds, they buy T-bills. They like to be sure.

I use two brokers in based in two different jurisdictions, as that's another level of being sure.

Jim

Berkshire Hathaway FAQ

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