Circle, the issuer behind the USDC stablecoin, has frozen $57 million value of USDC linked to the LIBRA staff, based on on-chain knowledge. The transfer, first reported by Aggr Information on X, exhibits two transactions marked as “freezeAccount,” on the Solana blockchain. Circle’s USDC Switch Halt Exposes Centralized Management Behind Stablecoins As Circle centralizes management over USDC, freezing the asset is an choice constructed into the system. Because of this, its management could be activated, when needed, normally for regulation enforcement, sanctions or in opposition to suspected illegal exercise. To this point, each Circle and different official sources haven’t defined why the freeze was put in place. These sorts of actions normally point out that one thing is suspected by the authorities. Many cryptocurrency customers nonetheless query how Circle can prohibit entry to customers’ cash. The blockchain helps safety and follows laws. Nevertheless, many crypto followers dislike the adjustments the corporate makes to its… Read More at Coingape.com
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