The issuer Circle behind the USDC Stablecoin has frozen the USDC’s $ 57 million price price, according to the on-chain data. This trick reported by AGG News on X, shows two transactions marked as “Freezcount” on Solan Blockchain.
Circle’s USDC transfer stops centralized control behind stablecoins
As the circle centralizes the control of the USDC, Freeze property There is an option built in the system. As a result, its control can be activated when necessary, usually against law enforcement, restrictions or against illegal illegal activity.
So far, both circle and other official sources have not explained why the freeze was kept. These types of tasks usually indicate that some officers are suspected.
Many cryptocurrency users still question how circle can restrict access to users’ money. Blockchain supports security and follows rules. However, many crypto fans dislike the changes made by the company for their operation. This indicates that not all crypto property USDC There is still a relationship with the regulatory structure of the real world.
Source: X (@aggrnews)
Unanswered questions about Libra’s frozen $ 57m
On-chain records publicly verify action, but they do not tell the whole story. According to sources familiar with the case, the trigger made by the freeze was a reaction to a legal request.
Given the amount included in this, it will probably attract attention from both regulators and blockchain investigators in the coming days, probably the possibility of later. Bitcoin Conference 2025.
It is currently the center of attraction among the players of the industry. This phenomenon is a reminder that even in the world created on decentralization, some tokens (especially stabelines) come with centralized control.
While USDC provides stability and regulator friendship, it may also be frozen if the issuer believes is a valid reason to do so. News JohnsonA commentator indicated inequality here. According to him, the Libra team leaders, Hayden, do not want the police.
In addition, there is no allegation of hacking or theft against him. Knowing the risks, people voluntarily bought tokens. So, he asked, why freeze funds? And where does the money go now? Does the circle catch it? Do users get refunds?
As more updates come out, the Crypto community must be looking closely for the circle’s official response and further clues about the Libra team and frozen funds. The circle has recently been in the news for various reasons, one of which is a possible acquisition of 10% of its IPO shares. black Rock,
Paul
Paul Ededoine, an experienced crypto journalist who offers timely news, intensive research and practical materials to inform and empower his audience. He can be reached through (Email protected)
Disclaimer: The material presented may include the author’s personal opinion and is subject to the market status. Do your market research before investing in cryptocurrency. The author or publication does not have any responsibility for your personal financial loss.
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