ZachXBT comments on Y Combinator supporting the use of USDC: Circle is not proactive enough in supporting user interests.
Foresight News reported that on-chain detective ZachXBT commented on "Y Combinator allowing startups to choose to receive investments in USDC," stating, "If a startup makes a small mistake and sends $500,000 USDC to the wrong address, even if law enforcement requests assistance, Circle will refuse to provide further help. Circle claims to be developer-friendly, but when it comes to actually protecting user interests, their actions are often insufficient. In contrast, Tether and Paxos usually perform better in this regard. USDC is not decentralized at all; its smart contract has a freeze function, and the terms of service clearly specify how this function is to be used."
According to previous Foresight News reports, ZachXBT accused Circle founder Jeremy Allaire of promoting suspicious tokens, with PURCH's market cap dropping more than 90% from its peak.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Indian Rupee: Inflation and trade reshape INR – Commerzbank
SoftBank CDS Approaches Three-Year High! Concerns Over OpenAI Financing Intensify, “Paper Wealth” Fails to Alleviate Cash Crunch
The credit default swaps (CDS) of SoftBank Group are hovering near a three-year high. Traders are assessing the potential impact of OpenAI’s financing plans, as OpenAI is one of SoftBank’s largest bets.
Grab (GRAB.US) acquires 60% stake in buy-now-pay-later platform Atome for 1.49 billion USD, betting on consumer credit as the "next frontier"
Grab plans to first acquire 60% of Atome Financial with $1.49 billions in cash, and then purchase the remaining 40% after approximately two years.
Singapore medical service provider LYC Healthcare prices IPO at $4 per share, raising the offering size by 67% to $25 million
LYC Healthcare increased the proposed size of its upcoming IPO on Tuesday. The company now plans to offer 6.3 million shares at a proposed price of $4 per share, aiming to raise $25 million.
Crypto prices
More
