Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

Surprise Revelations from Cryptocurrency Detective ZachXBT: Blames Major Cryptocurrency Company

BitcoinsistemiBitcoinsistemi2024/09/15 17:54
By:Mete Demiralp

Cryptocurrency analyst ZachXBT accused one of the largest cryptocurrency companies in the United States in his statement.

Widely recognized on-chain researcher in the crypto community, ZachXBT, recently criticized USDC issuer Circle, accusing the company of prioritizing profit over the ecosystem.

ZachXBT noted that Circle has been slow to act on key security issues, citing the company’s delayed response to blacklisting funds linked to the North Korean hacker group Lazarus. According to ZachXBT, Circle took 4.5 months longer than other major stablecoin issuers to freeze stolen assets despite the DeFi vulnerabilities being revealed.

ZachXBT’s criticism stands in contrast to the reputation of Tether, which has often been praised for acting quickly when freezing funds involved in malicious activity, despite frequent criticism of its compliance.

Related News Prominent Analyst Shares Late September-Early October Bitcoin Forecast

In a post on X (formerly Twitter) on Friday, Allaire expressed optimism about the U.S.’ role in shaping the future of crypto. “The U.S. is at a ‘turning point’ in crypto and is about to become a ‘decisive leader’ in nurturing the technology,” Allaire wrote.

Allaire’s comments come amid complaints from some in the crypto community that the U.S. government has become increasingly hostile toward the industry. However, Allaire believes the U.S. government is taking steps to encourage innovation rather than stifle it.

*This is not investment advice.

0

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.

PoolX: Stake to earn
APR up to 10%. Always on, always earning.
Stake now!

You may also like

Breakeven price added to spot trading

To improve calculations for individual assets and spot PnL data,a new indicator called ''breakeven price'' was introduced in spot trading starting from September 19, 2024, at 10:15:44 AM (UTC+8). Breakeven price = (initial position size × initial breakeven price + change in position size × price at

Bitget Announcement2024/09/29 10:14

LINKUSD is Now Available on Futures

Bitget launched LINKUSD futures on September 29 , 2024 (UTC+8) with a maximum leverage of 20x. Welcome to try futures trading via our official website (www.bitget.com) or Bitget APP. LINKUSD-M perpetual futures: Parameters Details Listing time September 29, 2024 17:40 (UTC+8) Underlying asset LINK

Bitget Announcement2024/09/29 09:46