Best wishes to everyone, let's get back to normal 🧧
Right now, even with a lot of U, one can still lose money. USDT has collapsed, and the over-the-counter price in China has dropped to 6.92.
Currently, 1 USDT = 6.95 RMB
But 1 USD = 7.07 RMB
Due to US sanctions, Huiwang (Huione) has experienced a large-scale run on the bank.
Some merchants' accounts holding USDT have been marked as "sensitive assets" and cannot be used.
As a result, many merchants are forced to sell off in the over-the-counter market, and the price of USDT has plummeted from 7.2 to 6.9 CNY. Stablecoins, at this moment, seem not at all "stable."
Short-term fluctuations may continue to widen, and the window for over-the-counter merchants is rapidly closing.