Damn, has USDT really dropped to 6.95 now? What’s going on?

Here are a few rumors that have been circulating like crazy lately:

First possibility, could it be related to that recent stablecoin policy update from the six ministries? I heard some OTC merchants have started dumping at any cost, eager to cash out and exit.

There’s also an even wilder rumor—a major platform involved in guarantee services supposedly ran into trouble, and the USDT they’re holding is about to flood the market. Word on the street is that some people are buying at a 30% discount. Not sure if it’s true, but the rumor is spreading widely.

Of course, we can’t rule out the possibility that something’s up with Tether itself. After all, such an insane level of depegging must have some cause.

Anyone knowledgeable here? What’s really going on?