Circle ceases USDC support on TRON blockchain as part of risk management strategy
Quick Take The decision followed an “enterprise-wide” risk assessment, according to Circle.
“As part of our risk management framework, Circle continually assesses the suitability of all blockchains where USDC is supported,” the company said in the statement , adding that the decision to cease support for TRON followed an “enterprise-wide approach” involving the business organization, compliance and other functions.
“This action aligns with our efforts to ensure that USDC remains trusted, transparent and safe,” Circle continued.
The company said it will support its Circle Mint users to transfer their USDC to other blockchain networks through February 2025. Its clients may also choose to redeem their USDC holdings for fiat currency with Circle, according to the announcement. Circle directed retail USDC holders and non-Circle users to retail trading platforms to redeem or transfer their holdings.
Circle did not immediately respond to The Block’s request for further comment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
HP Q3 Year-on-Year Growth of 13%, Earnings Forecast Exceeds Expectations but Fails to Prevent Stock Plunge; Market Focuses on PC Demand Concerns | Earnings Report Highlights
HP reported Q3 revenue of $15.7 billion, up 13% year-on-year, with adjusted earnings per share of $0.83. Both full-year and Q4 earnings guidance exceeded market expectations, but the stock fell about 10% after hours. The market is concerned that profit improvement primarily relied on one-off factors such as tariff refunds; after excluding these, the Q4 guidance actually falls short of expectations. While PC business revenue grew 18%, shipments declined 16%, indicating that growth was driven by price increases rather than expanding demand.
Nvidia's Second-Quarter Results More Than Double Amid Record Data Center Sales
Trade War Spreads to Election Battle: Trump's Tariff Actions Put GOP Midterm Elections Under Pressure
Trump reduced some import tariffs on beef and imposed a 50% tariff on $20 billion worth of Canadian goods, directly impacting key Senate battleground states such as Maine, Michigan, Ohio, and Alaska. According to analysis, in the 2024 election, Canada's retaliatory tariffs will have twice the economic impact on states won by Trump compared to those won by Democratic candidate Harris.
Crypto prices
More
