Circle Unfreezes USDC Wallets Amid Concerns Over Stablecoin Control

Circle, the company behind the USDC stablecoin, has faced criticism over the freezing of 16 USDC wallets tied to crypto businesses.

The wallets were frozen due to a sealed U.S. civil court case, but on-chain investigator ZachXBT found that wallet activity appeared normal and showed routine business transactions.

Circle has since begun to unfreeze the wallets, but the move has raised concerns about stablecoin control.