1. Circle and ZachXBT Conflict
2. Circle's Optimism About Stablecoins
3. Circle's Role in Lazarus Group's Operations

Circle has come under scrutiny after accusations from investigator ZachXBT of prioritizing profits over the security of the crypto ecosystem. Simultaneously, the company remains positive about the future of stablecoins, advocating for global regulatory harmonization.

Circle and ZachXBT Conflict

Renowned investigator ZachXBT has recently criticized Circle and its CEO Jeremy Allaire for their delayed response in blacklisting stolen funds linked to the Lazarus Group. The group, reportedly tied to North Korea, has been responsible for numerous crypto hacks. ZachXBT claims that Circle allowed stolen funds to circulate freely on its platform for months, while other companies like Tether and Paxos acted more swiftly.

Circle's Optimism About Stablecoins

Despite the criticism, Circle remains confident in the future of stablecoins, such as USDC. The company's leadership emphasizes the need for global regulatory harmonization to ensure the compliant and secure use of digital currencies, especially as internet payment and financial services companies show increasing interest. Chief strategy officer Dante Disparte expressed confidence that stablecoins will become a principal means of digital payments, highlighting the company's commitment to cooperation in regulatory matters.

Circle's Role in Lazarus Group's Operations

Criticism towards Circle stems from its slow response in blacklisting stolen funds passed through its network. While other stablecoin issuers like Tether swiftly blocked transactions related to Lazarus, Circle's delayed actions have drawn criticism from the crypto community. This incident raises concerns about the responsibilities of centralized issuers in maintaining the integrity of the crypto ecosystem and preventing their platforms from being used for illicit activities.

Despite facing criticism, Circle continues to advocate for the mainstream adoption of stablecoins and emphasizes the importance of global regulatory harmonization to protect user interests and ensure the security of digital assets.