Circle CEO defends stablecoin hack response

Circle CEO Jeremy Allaire has addressed criticisms regarding the company's approach to handling illicit funds within its stablecoin operations. Allaire stated that Circle only freezes wallets when there is a formal legal basis, emphasizing the regulated nature of their USDC stablecoin. This stance highlights the company's commitment to operating within legal frameworks while managing security concerns. The comments were made during a press conference in Seoul, underscoring the global attention on stablecoin security and regulatory compliance in the rapidly evolving digital asset market.