Just took a look at the C2C market on a certain exchange, and the USDT OTC price has plunged directly to 6.9. This drop is pretty brutal.

I heard it’s because of issues with Huiwang. Right now, some people in the market are even buying Huiwang’s USDT at a 30% discount—just look at the scale of that markdown.

Speaking of which, the mess with Taizi Group really blew up once the Americans got involved—the fallout has been huge. Trying to get things back on track? That’s no easy task.

On Telegram, those escrow platforms and peripheral platforms—several have run off in the past few days, not just one or two, but a whole bunch.

Gotta say, this round of action is definitely a dimensionality reduction blow to the gray market. The market is reshuffling, so you’ve got to be extra careful.