The issue with the USDT exchange rate has been discussed quite a few times. It’s possible it could continue to drop, even hitting around 6.7. On one hand, the expectation that the Fed will continue cutting rates in 2026 might lead to a weaker USD. On the other hand, USDT is under dual pressure from Cambodia and China, causing concentrated OTC sell-offs. The key thing to watch is the exchange rate between USDT and USDC. Since USDC can maintain a constant 1 USD, this rate essentially reflects the USDT to USD exchange rate. If there’s already a deviation against USD, it’s even more skewed against CNY. All I can say is that too many people are trying to sell USDT right now, which is causing the rate to deviate. Of course, S&P’s low rating for Tether is also one of the reasons. @bitget VIP, lower fees, crazier perks.