Summary
TLDR: Circle will no longer support USDC on the Tron network, citing a focus on trust and safety. Customers can transfer tokens to other networks or redeem for fiat currency. Tron spokesperson did not directly address the decision. USDT remains dominant on Tron, with TRX price stable. Justin Sun, Tron’s founder, has faced SEC charges in the past. Circle refuted allegations of banking Sun or financing Hamas, emphasizing legal compliance and transparency.
Key Points
1. Circle will discontinue its support for stablecoin USDC on the Tron network.
2. USDC is the second-largest stablecoin by market capitalization, with a total circulating amount of nearly $26.9 billion.
3. Customers of Circle Mint will have the option to transfer their USDC tokens from TRON to other networks or directly redeem USDC on TRON for fiat currency.