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I largely agree with ZachXBT's point of view. Circle can choose not to intervene, and I'm not qualified to criticize it. However, Circle may not realize that they are the fastest and most effective party to stop this behavior; true regulation is still difficult to penetrate this area. USDC's most advantageous battlefield is also on-chain, especially in DeFi. If Circle doesn't intervene, the market will lose confidence, and USDC will gradually lose its leading position.

ZachXBT
@zachxbt
Circle was asleep while many millions of USDC was swapped via CCTP from Solana to Ethereum for hours from the 9 figure Drift hack during US hours. Value was moved and nothing was done yet again. Comes days after you froze 16+ business hot wallets incompetently which is still
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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