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Circle Responds and Denies Accusations

Circle refutes allegations of illicit financing or connections with Justin Sun, founder of Tron.

In an open letter published on its blog, Circle, the issuer of the USDC stablecoin, has categorically denied the allegations that it is involved in illicit financing or has links with Justin Sun, the controversial founder of Tron. This statement comes in response to accusations made by a non-profit watchdog group.

Indeed, Circle’s open letter is a direct response to the claims made by the Campaign for Accountability, which alleged that Circle had close ties to Sun’s Tron Foundation and major Wall Street investors. In their response, Circle sought to clarify their position and dispel doubts about their operations and business relationships.

The letter, addressed to US Senators Elizabeth Warren and Sherrod Brown, was signed by Dante Disparte, Circle’s Director of Strategy and Head of Public Policy. Disparte refuted the claims made by the Campaign for Accountability, calling the allegations false. He clearly stated that Circle does not directly or indirectly facilitate the financing of organizations like Hamas or other illicit actors.

Mr. Sun and any entity owned or controlled by Mr. Sun, including the Tron Foundation or Huobi Global, currently have no accounts with Circle.

Circle provides clarification on its services

Disparte also clarified that Circle had ceased providing services to Justin Sun and his affiliated entities, including the Tron Foundation and Huobi Global, since February 2023. Regarding the accusations of financing terrorist organizations such as Hamas or Hezbollah, Disparte denied these allegations based on concrete data, stating that only $160 USDC had been transferred between illicit wallets and none of these funds were acquired from Circle.

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