Circle Rejects Allegations of Financing Hamas and Banking Justin Sun
Circle, the issuer of the USDC stablecoin, has denied allegations that it finances Hamas or banks Tron blockchain founder Justin Sun. In a letter to U.S. Senators Sherrod Brown and Elizabeth Warren, Circle’s CSO Dante Disparte stated that the fintech firm is subject to multiple regulatory regimes and adheres to anti-money laundering and terror funding laws. Disparte responded to a letter from the Campaign for Accountability, which raised concerns about Circle’s ties to Sun and Tron’s alleged financing of Hamas, Hezbollah, and the Palestinian Islamic Jihad. Disparte highlighted Circle’s efforts to combat illicit finance and its partnership with law enforcement agencies.
Refuting False Claims
Disparte emphasized that the USDC stablecoin was not among the digital currencies marked for seizure by Israeli law enforcement. He stated that only $160 in USDC was transferred among the identified wallets and none of it came from Circle. Regarding Circle’s relationship with Justin Sun, Disparte acknowledged past dealings but clarified that these interactions were ended in February 2023 when Circle terminated Sun’s accounts. Disparte concluded the letter by expressing Circle’s willingness to work with the Senators to strengthen regulation in the digital assets space.
Hot Take: Circle Denies Allegations of Financing Terrorism
Circle, the USDC stablecoin issuer, vehemently denies allegations of financing Hamas or banking Justin Sun, the Tron blockchain founder. In response to concerns raised by the Campaign for Accountability, Circle’s CSO refutes the claims and underscores the company’s compliance with regulatory regimes and anti-money laundering laws. The CSO states that the USDC stablecoin was not involved in the Israeli law enforcement’s seizure of digital currencies, with only a minimal amount being transferred among wallets, none of which originated from Circle. Circle also clarifies that its past dealings with Justin Sun were terminated in February 2023. The company expresses readiness to collaborate with U.S. Senators to enhance digital asset regulation.
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