Circle Froze $1.1 Billion in USDC Linked to Binance Hack Investigation
(3 hours ago) · 1 source · Summarized by CryptoBipto
Circle, the company that issues the USDC stablecoin, has announced it froze $1.1 billion worth of USDC tokens connected to an investigation into a Binance hack. The freeze prevents the affected tokens from being moved or redeemed. The action highlights the ability of centralized stablecoin issuers to restrict access to funds when linked to suspected illicit activity.
WHY IT MATTERS
Stablecoins like USDC are digital tokens designed to maintain a steady value, usually pegged to the US dollar.
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SOURCES
- newsbtc.com
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