Circle defends its hands-off approach to freezing funds as critics point to hundreds of millions in losses tied to delayed action. Jeremy Allaire said Circle freezes USDC wallets only when directed by law enforcement or courts, not in real time during hacks. Critics including ZachXBT claim delays have allowed over $420 million in illicit funds to escape since 2022. Some experts argue faster freezes would undermine DeFi by giving stablecoin issuers too much discretionary power. Circle Internet (…
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