Circle CEO defends USDC freeze policy as criticism grows after Drift exploit

Circle Internet CEO Jeremy Allaire has defended the company's policy on freezing USDC assets, clarifying that Circle only acts when there is a formal legal mandate from authorities. This response addresses growing criticism following the recent $285 million Drift Protocol exploit, during which observers argued that Circle failed to intervene quickly enough to stop stolen funds from moving. Allaire maintains that USDC operates as a regulated financial product, not a tool for discretionary intervention, and has used the incident to advocate for clearer legislative frameworks regarding stablecoin issuer responsibilities.

(Source：Crypto Briefing)