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According to an open letter published on Circle’s blog, the company has not provided services to Justin Sun since February.
USDC stablecoin issuer Circle has denied claims of illicit financing and ties to Tron founder Justin Sun, according to an open letter accessed from Circle’s blog on Nov.
The post was published on Nov.
In the letter, Disparte claimed that Circle has “recently became aware” of “false” claims being made about it by the “so-called Campaign for Accountability (“CfA”).
Disparte dismissed the allegation that Circle facilitated “major flows of funds to Hamas or Hezbollah,” claiming instead that these accusations are based on uncorroborated, unverified posts to social media.
Disparte also claimed that Circle stopped providing services to Justin Sun in February, 2023, stating:
“Neither Mr. Sun and his affiliated companies in February 2023.”
The open letter from Circle appears to have been sent in response to a Nov. CfA’s letter claimed that Circle has extensive ties to Justin Sun’s Tron Foundation and major Wall Street investors and that Sun’s cross-chain protocol, SunSwap, is often used for money laundering.
Related: WSJ debacle fueled US lawmakers’ ill-informed crusade against crypto
Claims that crypto is being used to finance terrorism have been commonplace since the Israeli-Hamas war broke out on Oct. The media outlet later corrected its story, stating instead that $12 million in crypto “may have been” sent to these organizations.
Go here to Read this Fast! Circle denies claims of illicit financing and ties to Justin Sun
Originally appeared here:
Circle denies claims of illicit financing and ties to Justin Sun
