Circle has made a move too
The stated position is that it has frozen over $800 million in USDC related to the Binance theft
and is cooperating with law enforcement investigations
Along the same lines,
there are reports that U.S. federal agencies are involved in the investigation
The specific agencies will be confirmed in official announcements
Don't let screenshots in group chats sway you
When a stablecoin issuer steps in to freeze funds,
the channels for cashing out stolen funds get narrower
This is the same kind of pressure as the roughly $3 billion already frozen on-chain
It isn't a signal that prices will reverse immediately
It means attackers are facing greater friction when offloading funds
Next, watch for two things:
the progress of the phased restoration of withdrawals
and whether more asset issuers continue freezing addresses
$BTC $BNB
#Circle #USDC #AssetsFrozen
The stated position is that it has frozen over $800 million in USDC related to the Binance theft
and is cooperating with law enforcement investigations
Along the same lines,
there are reports that U.S. federal agencies are involved in the investigation
The specific agencies will be confirmed in official announcements
Don't let screenshots in group chats sway you
When a stablecoin issuer steps in to freeze funds,
the channels for cashing out stolen funds get narrower
This is the same kind of pressure as the roughly $3 billion already frozen on-chain
It isn't a signal that prices will reverse immediately
It means attackers are facing greater friction when offloading funds
Next, watch for two things:
the progress of the phased restoration of withdrawals
and whether more asset issuers continue freezing addresses
$BTC $BNB
#Circle #USDC #AssetsFrozen
